NEW YORK (AP) — Shares of ING U.S. Inc. rose slightly in their first day of trading following the company's $1.3 billion initial public offering.
ING U.S. sold 65.2 million shares for $19.50 each, making the IPO one of this year's biggest. The offering's underwriters also have the option of buying an additional 9.8 million shares at the IPO price.
ING U.S. is part of Dutch financial services provider ING Groep NV. The parent company is selling a minority stake in ING U.S. as part of compensation measures demanded by the European Commission after ING received a bailout from the Dutch government in 2008.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
