27 November, 2009
FACTBOX-Key facts on ING's 7.5 bln eur rights issue
Nov 27 (Reuters) - Dutch financial group ING (ING.AS) has
priced a 7.5 billion euros ($11.20 billion) rights issue, which
will be used to pay back state aid, at a hefty discount.
[ID:nGEE5AQ03T]
Following are key details of the offering:
NUMBERS
* Issue price per share of 4.24 euros
* Offer is 6 shares for every 7 held
* Issue price represents a discount of 52.4 percent to Nov.
26 close of 8.916 euros
* 37.3 percent discount to the theoretical ex-rights price
* 1.768 billion new shares to be issued, on top of over 2
billion ING shares outstanding.
TIMETABLE
* Subscription period begins Monday, Nov. 30
* Subscription ends Tuesday, Dec. 15
* Rump offering Wednesday, Dec. 16
Trading in the rights is expected to commence on Euronext
Amsterdam under the symbol INGRI, ISIN NL0009307941, and on
Euronext Brussels under the symbol INGRI, ISIN NL0009307941.
The issue is fully underwritten by syndicate led by Goldman
Sachs and J.P. Morgan. Goldman Sachs, ING Bank and J.P. Morgan
are joint global coordinators.
(Compiled by Reed Stevenson; editing by John Stonestreet)
((reed.stevenson@thomsonreuters.com; +31 20 504 5002;
Reuters Messaging: reed.stevenson.reuters.com@reuters.net))
($1=.6699 Euro)
Source: http://www.reuters.com
FACTBOX-Key facts on ING's 7.5 bln eur rights issue Added: (27.11.2009)
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