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Ing Groep prices NN Group shares in IPO


Tuesday, 1 Jul 2014 05:49pm EDT 

Ing Groep NV:To sell 77 mln ordinary shares in IPO of NN Group at offer price of 20 euros per share, resulting in about 1.5 bln euros in gross proceeds for ING.Gross proceeds to ING at settlement of IPO amount to about 2 bln euros including exchange into NN Group shares of 450 mln euros of mandatorily subordinated notes and excluding exercise of over-allotment option.ING intends to use net proceeds of offering to reduce its double leverage.NN Group shares expected to be listed and start trading on Euronext Amsterdam on July 2 under listing name "NN Group" and symbol "NN".Settlement date and start of unconditional trading expected to take place on July 7. 

Company Quote

10.96
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10 Feb 2016