AMSTERDAM, July 1 Shares of NN Group,
the insurance arm of Dutch financial services company ING Group
, will list for 20 euros per share, the company said
late Tuesday, in what is set to be the largest stock floatation
in Europe so far this year.
The price was in the middle of an initial range of
18.50-22.50 euros per share and will result in approximately
1.5 billion euros ($2.05 billion) in gross proceeds, ING said in
The offering values NN Group at 7 billion euros ($9.55
billion), it said.
Shares in NN Group are set to start trading in Amsterdam on
Earlier Tuesday ING said it had increased by 10 percent to
77 million the number of ordinary shares being listed due to
"significant" investor demand.
($1 = 0.7331 Euros)
(Reporting By Anthony Deutsch; Editing by Diane Craft)