ING has announced that the share price on its IPO will be between $21.00 to $24.00 per share for a maximum of 64,166,667 shares of common stock offered. The offering will consist of a primary component offered by ING U.S. and a secondary component offered by Netherlands-based ING Group.

In total, the offering is expected to be between $1.4 billion to $1.5 billion, which includes $600 million in primary proceeds for ING U.S. This will reduce ING Group’s ownership in ING U.S. to 75% immediately following the IPO.

Morgan Stanley & Co., Goldman, Sachs & Co., and Citigroup Global Markets are acting as joint global coordinators for the offering. Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank Securities, and J.P. Morgan are acting as joint book-running managers for the offering.

When listed, ING U.S. will take the ticker “VOYA” to reflect the company’s anticipated re-branding as Voya Financial.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.