MutualFundWire.com: ING U.S. Starts a Second Public Offering VOYAge

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Monday, September 16, 2013

ING U.S. Starts a Second Public Offering VOYAge

It took ING U.S (ticker: VOYA) [profile] launch its hotly-anticipated IPO, which finally hit the marketplace in May. The company is indicating more offering hubbub is on the way, filing a registration statement on Form S-1 with the SEC in advance of a potential second public offering of its common stock held by parent company ING Group.

Prior to unveiling its IPO, ING U.S hoped to premiere shares at a price of around $22.50, but fell short of its proposal, opening with a price per share of around $19.50. The stock's value has since escalated; presently ING U.S touts a price per share of $30.05. See the press release below.

Company Press Release
ING U.S. Files Registration Statement with Securities and Exchange Commission for Public Offering of Common Stock

NEW YORK, Sept. 13, 2013 -- ING U.S., Inc. (VOYA) announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) in connection with a potential public offering of ING U.S. common stock currently held by ING Group. ING U.S. will not be issuing or selling common stock in the offering and will not receive any proceeds from the offering.

In connection with this potential offering, the underwriters have agreed to waive the previous lock up agreement by ING Group to not offer or sell its shares of ING U.S. for a 180-day period following ING U.S.'s initial public offering on May 1, 2013. The potential offering will be conducted at a later date and is subject to market conditions and other factors.

The prospectus relating to the offering may be obtained by visiting the SEC's website at www.sec.gov or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, email: prospectus@morganstanley.com, telephone: (866) 718-1649; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email: prospectus-ny@ny.email.gs.com; and Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146, email: batprospectusdept@citi.com.

The registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.