Underwriters of ING U.S. IPO Exercise Overallotment Option; ING Group Stake in ING U.S. Reduced to Approximately 71 Percent
NEW YORK, May 28, 2013 /PRNewswire/ -- ING U.S., Inc. (NYSE: VOYA) announced today that the underwriters in the Initial Public Offering (IPO) of ING U.S. have exercised their overallotment option to purchase approximately 9.8 million additional shares of ING U.S. from ING Group at the IPO price of $19.50 per share. ING U.S. shares started trading on the New York Stock Exchange on May 2, 2013.
The exercise of the option has no financial impact to ING U.S. The gross proceeds from the exercise go to ING Group and will reduce ING Group's ownership in ING U.S. to approximately 71 percent. The closing of the overallotment offering is expected to occur on May 31, 2013, subject to customary closing conditions.
The registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission. A copy of the registration statement may be obtained by visiting the SEC website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, any securities, nor shall there be any offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About ING U.S.
ING U.S. (NYSE: VOYA), which plans to rebrand in the future as Voya Financial, serves the financial needs of approximately 13 million individual and institutional customers with a comprehensive array of Retirement, Investment and Insurance products and services, including retirement plans, IRA rollovers and transfers, stable value, institutional investment management, mutual funds, alternative investments, life insurance, employee benefits, fixed and indexed annuities and financial planning. Our dedicated workforce of approximately 7,000 employees is focused on ING U.S.'s mission to make a secure financial future possible — one person, one family and one institution at a time. ING U.S.'s vision is to be America's Retirement Company™. For more information, visit http://ing.us.
SOURCE ING U.S., Inc.