ING U.S. Files for $100M IPO


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.

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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)