ASR Seeks Up to $1.5 Billion in IPO as State Cuts Stake

  • Price range of EU18-EU22 a share gives value of EU3.3 billion
  • Insurer part of Dutch takeover of Fortis in financial crisis

The Dutch government is seeking to raise as much as 1.32 billion euros ($1.5 billion) in an initial public offering of ASR Nederland NV as it begins to pare back its holding in the insurer that was nationalized during the financial crisis.

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