Published November 09, 2012
ING U.S. Inc, a unit of Dutch financial services group ING Groep, filed with regulators to raise up to $100 million in an initial public offering.
The company, which provides insurance, retirement and investment services, named Morgan Stanley and Goldman Sachs the lead underwriters to the offering.
Over the past few years ING Groep has been selling off businesses to repay the remainder of the money it owes the Dutch government for a 2008 capital infusion of 10 billion euros ($12.71 billion).
The company has been looking at an IPO for ING US as part of that plan.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. ($1 = 0.7868 euros) (Reporting by Jochelle Mendonca and Ashutosh Pandey in Bangalore; Editing by Supriya Kurane)