ING U.S. Inc. has filed an amended registration statement for its IPO with the Securities and Exchange Commission, saying it plans to price its shares between $21 and $24 each, valuing the company at more than $6 billion.
The proposed IPO will consist of both a primary component offered by ING U.S. and a secondary component offered by Netherlands-based ING Group for a maximum of 64,166,667 shares of common stock.
Based on this price range, the total offering is expected to raise $1.4 billion to $1.5 billion, including $600 million in primary proceeds for ING U.S., and will reduce ING Group’s ownership in ING U.S. to 75 percent.
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