ING increases number of offer shares in NN Group IPO
ING announces today that, in consultation with NN Group, it has increased the number of existing ordinary shares offered in the initial public offering 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 in the offering later today, after the close of trading on the New York Stock Exchange.
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.
For more information about NN Group and the IPO we refer to the press release dated 16 June 2014 announcing the price range for the shares offered in the IPO of NN Group. We also refer to the prospectus dated 17 June 2014, copies of which may, subject to securities law restrictions in certain jurisdictions, be obtained at no cost from NN Group’s head office during normal business hours. Alternatively, the prospectus can be downloaded from NN Group’s website at www.nn-group.com. (Dutch residents only). In addition, a copy of the prospectus may be obtained free of charge by sending a request in writing or by email to ING Bank N.V. as Listing Agent: ING Bank N.V., Attn,: Paying Agency Services, Location code AMP L02.007, Amsterdamse Poort, Bijlmerplein 888, 1102 MG Amsterdam, the Netherlands, email iss.pas@ing.nl.
J.P. Morgan, Morgan Stanley, ING Bank and Deutsche Bank are acting as joint global co-ordinators for the IPO. BNP Paribas, Citigroup, Commerzbank, Credit Suisse and Nomura as well as the joint global coordinators are acting as the joint bookrunners for the IPO. ABN Amro, HSBC and RBC Capital Markets are the joint lead managers, and Keefe, Bruyette & Woods and Rabobank International are the senior co-lead managers for the IPO. BBVA, Erste Group, KBC Securities, Mediobanca, Natixis, Raiffeisen Centrobank and UniCredit are the co-lead managers for the IPO.
