ING U.S. prices IPO at $19.50, below the range

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ING U.S., ING's US retirement, insurance and investment management business, raised $1.3 billion by offering 65.2 million shares (53% insider) at $19.50, below the range of $21-$24. The company had originally planned to sell 64.2 million shares (58% insider), but upped the primary share component in order to ensure its goal of raising gross proceeds of $600 million for the company. ING U.S. plans to list on the NYSE under the symbol VOYA. Morgan Stanley, Goldman Sachs and Citi led the underwriting team.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: VOYA

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