ING is planning to raise 1.9 billion USD with NN getting listed

ING Group is planning to start the sale of its European insurance unit (NN) on July,2.

ING will put 70 million shares on the market at 25 - 30 USD each, making of this operation one of the most important IPOs stock exchange listings of the year in Europe.

It has been said that ING’s ownership of NN Group would be of 73.6% after this IPO, and should decline to 50% by the end of 2015 before a complete withdrawal planned for the end of 2016".

This operation should serve to reimburse State aid granted to ING during the 2008 crisis.