Shares in international insurance and investment management company NN Group N.V. today began trading on the Amsterdam market of Euronext, after its successful Initial Public Offering (IPO). With a total offering valued at €1.54 billion NN Group is the largest IPO in continental Europe since 2011.
NN Group is a leading Dutch insurer with a strong European insurance and investment management footprint and an attractive Japanese business, including its main business lines Nationale-Nederlanden, ING Insurance Europe, ING Investment Management and ING Life Japan.
After opening, the first market price was € 21 per share. The total market capitalization of the company at opening was €7.35 billion.
Lard Friese, CEO of NN Group, said: “Listing on Euronext Amsterdam marks an important milestone for NN. After 23 years we’re back on the stock exchange of Amsterdam. We are excited to start this new phase and we believe our listing on Euronext Amsterdam will further raise NN’s profile. The focus we will have as a standalone company helps us in our dedication to provide our clients with an excellent experience and to deliver on our company´s business objectives.”
“This is an exciting day for NN Group and we congratulate them on their successful listing“ Cees Vermaas, CEO of Euronext Amsterdam said: “Euronext’s role as a capital raising centre for companies, large, mid and small, is fundamental for the Dutch economy, providing opportunities for growth and ultimately creating jobs. NN Group’s listing today is another example of how Euronext is providing solutions for companies and helping to finance the real economy.
“We are pleased to welcome NN Group, the largest IPO in continental Europe since 2011, to our market and welook forward to a beneficial and lasting partnership to support the company and its shareholders with the highest levels of service, liquidity and market quality” added Anne Louise Metz, Head of Listings for Euronext Amsterdam. “So far, it has been a successful year for listings in Amsterdam. In total €22 billion additional market cap was added through new listings and the second half of the year also looks promising.”
Lard Friese celebrated the company’s listing by sounding the opening gong which denotes the opening of trading on Euronext. He was joined by the Management Board of NN Group, Ralph Hamers, CEO of ING Group and Cees Vermaas, CEO of Euronext Amsterdam.
