ING to cut stake in ING U.S. to 60%

ING's current stake in the recently spun-off ING U.S. (VOYA -0.3%) is 71%. The 30M share offering includes a greenshoe option for the underwriters of 4.5M shares. If taken up, it would further reduce ING's holdings to 58%.

ING U.S. itself will neither be issuing any common stock as part of the offering, nor receiving any proceeds.

VOYA -2% premarket.

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    What does mean for ING PREFERRED shareholders?
    22 Oct 2013, 02:47 AM Reply Like
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