The FINANCIAL — ING announces that, in consultation with NN Group, it has increased the number of existing ordinary shares offered in the Initial Public Offering (IPO) of NN Group to 77 million, up from 70 million offer shares previously announced.
The decision to increase the offer size is due to significant investor demand. ING expects to announce the offer price for the offer shares to be sold after the close of trading on the New York Stock Exchange, according to ING.
In accordance with this increase of the number of offer shares, the number of additional ordinary shares covered by the over-allotment option has increased to up to approximately 11.6 million additional ordinary shares, representing up to 15% of the revised total number of offer shares.
NN Group shares are expected to be listed and start trading on Euronext Amsterdam at 09.00 hours (CET) on 2 July 2014 (on an if-and-when-delivered basis) under the listing name ‘NN Group’ and the symbol ‘NN’. Allocation of the offer shares is expected to take place on 2 July 2014. The settlement date and the start of unconditional trading are expected to take place on 7 July 2014, according to ING.
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