Nov 9 ING U.S. Inc, a unit of Dutch financial
services group ING Groep, filed with regulators to
raise up to $100 million in an initial public offering.
The company, which provides insurance, retirement and
investment services, named Morgan Stanley and Goldman Sachs the
lead underwriters to the offering.
Over the past few years ING Groep has been selling off
businesses to repay the remainder of the money it owes the Dutch
government for a 2008 capital infusion of 10 billion euros
The company has been looking at an IPO for ING US as part of
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
($1 = 0.7868 euros)
(Reporting by Jochelle Mendonca and Ashutosh Pandey in
Bangalore; Editing by Supriya Kurane)