After a long process, ING U.S.
is finally ready to go public shortly, according to a Barron's
report. Yet an ING spokesman told MFWire
that the IPO isn't happening today.
The US business of the Dutch firm will IPO soon, part of the parent companies plan to divest and pay back a 10 billion-euro ($13 billion) bailout from the Dutch government.
The company hopes to sell 64.2 million shares at about $22.50 per share, resulting in a total of $1.45 billion in sales.
According to a Bloomberg
report, the IPO is being led by a group of managers who helped AIG
following its bailout.
For more details, check out the Barron's
and the Bloomberg
Correction: A prior version of this story relied on incorrect reports of the timing of the impending ING U.S. IPO.
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