Top Financial Shares:
Financial shares were lower in Thursday's pre-market session as
investors awaited reports on the labor market, home sales and
manufacturing and continued to digest remarks on Federal Reserve
policy from Fed Chair Janet Yellen on Wednesday.
In financial stocks news, ING U.S. (
), which will rebrand as Voya Financial, Inc. in 2014, late
Wednesday priced 26.5 million shares of its common stock being
offered by ING Group (
) at a price to the public of $35.23 per share.
In addition, ING U.S. will repurchase from ING Group 7,255,853
shares of its common stock at a price of $34.45494 per share
pursuant to the terms of a share repurchase agreement with ING
In total, ING Group will be selling approximately 33.8 million
shares of ING U.S. common stock, thereby reducing its ownership
stake in ING U.S. to approximately 45% immediately following the
closing of the transaction.
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