ING U.S. Files Preliminary Prospectus in Connection with IPO

April 22, 2013

On April 16, 2013, ING announced that ING U.S., Inc., its retirement, investment and insurance business, filed a preliminary prospectus with the SEC in connection with an initial public offering.  The total offering will be comprised of a primary component by ING U.S., expected to raise $600 million in primary proceeds, and a secondary offering by ING Group, expected to raise $800 million to $900 million in proceeds.  The current estimated offering price is $21 to $24 per share.


On April 16, 2013, ING announced that ING U.S., Inc., its retirement, investment and insurance business, filed a preliminary prospectus with the Securities and Exchange Commission in connection with an initial public offering.  The total offering proposed is comprised of a primary component offered by ING U.S., expected to raise $600 million in primary proceeds, and a secondary offering by ING Group, expected to raise $800 million to $900 million in proceeds.  The current estimated offering price is $21 to $24 per share. 

Following the offering, ING Group will reduce its holdings in ING U.S. to 75%.  The underwriters have the option to purchase additional shares in ING U.S., up to a maximum of 15% of total shares offered, at the initial public offering price.  If the option is fully executed, ING Group’s holding in ING U.S. would be reduced to about 71%.

This IPO has been proposed in connection with ING Group’s divestment of its insurance and investment management businesses, as part of a restructuring scheme approved by the European Commission.  ING Group will continue to divest its remaining stake in ING U.S. following the IPO. 

To read the press release, please click here.


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Investment Manager Financings, Transactions