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ING files for IPO of ING US, could raise $1 billion

November 9, 2012

ING US, a wholly owned subsidiary of ING Group, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The company is a premier retirement, investment and insurance company serving 13 million people in the US. The $100 million figure is a placeholder; the deal could eventually raise over $1 billion. The New York, NY-based company, was founded in 1999 and booked $9.3 billion in revenues for the 12 months ended 6/30/2012. Morgan Stanley and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.