NEW YORK (AP) — Shares of ING U.S. Inc. rose slightly in their first day of trading following the company's $1.3 billion initial public offering.
ING U.S. sold 65.2 million shares for $19.50 each, making the IPO one of this year's biggest. The offering's underwriters also have the option of buying an additional 9.8 million shares at the IPO price.
ING U.S. is part of Dutch financial services provider ING Groep NV. The parent company is selling a minority stake in ING U.S. as part of compensation measures demanded by the European Commission after ING received a bailout from the Dutch government in 2008.
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