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.

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This article appears in: News Headlines , IPOs


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