ENP Newswire - 04 July 2014
Release date- 03072014 - NN Group, an international insurance and investment management company opened for trad-ing today on Euronext Amsterdam under the symbol 'NN' after its initial public offering (IPO).
Lard Friese, CEO and Chairman of NN Group (as of the settlement date of the IPO), joined by members of ING Group (ING) and NN Group management teams, celebrated the company's listing day by visiting the Euronext Amsterdam trading floor and by hitting the ceremonial open-ing gong.
NN Group's ordinary shares started trading (on an if-and-when-delivered basis) this morning at EUR 20.00 per share. The offering consisted solely of existing shares of NN Group owned by ING. At the settlement of the IPO, and including the exchange into NN Group shares of EUR 450 million of mandato-rily exchangeable subordinated notes, ING's shareholding in NN Group will have been reduced to 71,4%. This is excluding the exercise of the over-allotment option by the joint global coordinators.
More information at https://www.nn-group.com/nn-group/Home.htm.
Lard Friese, CEO of NN Group, said:
'It's a great pleasure to announce our listing on Euronext Amsterdam. This event represents the final step in our journey to become a standalone company. After 23 years we're back on the stock exchange of Amsterdam and I want to thank the teams of both ING and NN Group, whose tireless efforts helped us to achieve this major milestone. The focus we will have as a standalone company helps us in our ded-ication to provide our clients with an excellent experience and to deliver on our company's business objectives.'
The management board of NN Group, as of the settlement date of the IPO, arrives on NN Group bikes at Euronext Amsterdam to celebrate NN Group's first day of trading.