ING moves closer to Euro 8 billion float of its insurance arm

I hear one of the largest flotations in Europe is getting close to lift off.

ING, which was bailed out by the Dutch government after the financial crisis, confirmed earlier this year it has already appointed JP Morgan, Morgan Stanley and, funnily enough, ING on a potential listing of its insurance business.


However, I understand from excellent sources that ING has recently appointed several other investment banks and is likely to float at the top end of market expectations in Amsterdam.

The Financial Times previously reported ING insurance arm is likely to be valued at between Euro 5 billion and Euro 8 billion.

If the ING float is successful, it is likely to be one of the largest European flotations of 2014 and will add fuel to the fire of the burgeoning European IPO market, which has seen several UK retailers recently list in London.

A spokesperson for ING declined to comment.