NN Group IPO orders below 20 euros likely to miss out - source
LONDON, June 30
LONDON, June 30 (Reuters) - Orders below 20 euros ($27.3) a share for the initial public offering (IPO) of NN Group are likely to miss out, a source familiar with the deal said on Monday, after the company earlier narrowed the price range for its Amsterdam listing.
A price of 20-20.50 euros a share gives ING's insurance arm a valuation 7-7.2 billion euros, the source added. Earlier the price range was narrowed to 19.50-20.50 euros, from an original range of 18.50-22 euros each. ($1 = 0.7331 Euros) (Reporting By Freya Berry; editing by Pamela Barbaglia)