NN Group €1.77bn Initial Public Offering, Netherlands


STJ Advisors acted as an independent advisor to the ING Group on the Initial Public Offering of NN Group, the largest Dutch insurance provider. After exercising the greenshoe in full, the offering raised €1.77 billion for ING Group, representing 25.3% of the company, and was upsized 10% reflecting strong demand. The NN offering is the largest European IPO this year and marks the largest Dutch insurance and 3rd largest Dutch IPO on record. Shares gained 6.3% in the first day of trading, valuing the company at €7.5 billion.

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