ING to Sell Shares in NN Insurance Unit as Soon as July

ING Groep NV, the biggest Dutch financial services company, plans to sell shares of its European insurance unit in an initial public offering as early as July.

“If markets hold up as they currently look, there are not that many issues in the way of coming somewhere after the next two, three weeks,” ING Chief Executive Officer Ralph Hamers told reporters on a conference call today. “The moment the prospectus will come out, we will also give more information on offer size and price range.”