ING U.S Underwriters Exercises Full Option To Acquire 3.98 Mln Additional Shares

(RTTNews) - ING U.S., Inc. (VOYA) which will rebrand as Voya Financial, Inc. in 2014, announced that the underwriters in ING Group's public offering of 26.5 million shares of ING U.S. common stock have exercised in full their option to purchase about 3.98 million additional shares from ING Group.

The company said that as previously announced, ING U.S. will also repurchase from ING Group 7.3 million shares of its common stock pursuant to the terms of a share repurchase agreement with ING Group. In total, ING Group will sell about 37.7 million shares of ING U.S. common stock, thereby reducing its ownership stake in ING U.S. to approximately 43% immediately following the closing of the transaction.