LONDON – J.P. Morgan SE has announced that it did not undertake any stabilisation measures for Kapla Holding S.A.S.’s recently offered securities. The notice, dated January 10, 2025, follows the initial pre-stabilisation period announcement made on January 9, 2025.
Kapla Holding S.A.S. issued EUR 400 million worth of 6.25-year non-call 2-year senior secured notes, which were listed on the Luxembourg Stock Exchange. The offer price for these securities was set at 100.
Stabilisation efforts are activities that underwriters can undertake to support the price of a security after its initial offering. However, in this case, J.P. Morgan SE, acting as the stabilisation coordinator, alongside Credit Agricole (OTC:) CIB as the stabilisation manager, did not perform any such actions during the period they were authorized to do so.
The announcement clarifies that the information provided is solely for informational purposes and should not be considered as an invitation or offer to buy or sell any securities of the Issuer in any jurisdiction.
Stabilisation activities are regulated under Article 3.2(d) of the Market Abuse Regulation (EU/596/2014) and by the Financial Conduct Authority’s rules. The lack of stabilisation actions suggests that the market’s reception of Kapla Holding’s new securities did not require intervention by the underwriters to maintain their price.
Investors and market watchers typically monitor stabilisation announcements as they can provide insights into the demand and stability of a new security’s market.
This disclosure is based on a press release statement and is intended to provide market participants with factual information regarding the post-stabilisation period of Kapla Holding S.A.S.’s securities offering.
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