ING Group (AMS:INGB) ING announced today that it intends to concentrate the trading of its (depositary receipts for) shares on the stock exchanges in Amsterdam, Brussels and New York. Accordingly, ING has filed applications to voluntary delist from the Frankfurt, Paris and Swiss stock exchanges.
The decision to seek delisting is based on the following factors:
* The low volume of shares traded on the aforementioned exchanges. In the twelve months up to 1 November 2008, trading on the Frankfurt, Paris and Swiss exchanges amounted to a combined 0.3% of the total daily trading volume in ING shares. This share of volume has steadily been diminishing over the last years. * Technological and regulatory developments now give investors ample opportunity to trade shares on exchanges outside their country of residence. This reason for having a broad range of listings is now no longer relevant. * Maintaining a listing brings costs with it. Concentrating trading on a limited number of exchanges aligns with ING's ongoing focus on cost efficiency.
The delisting from the Frankfurt Stock Exchange, and SWX Swiss Exchange (Zürich, Basle and Geneva) is expected to be completed in the first quarter of 2009. ING's delisting from Euronext Paris will take place after Euronext moves to a single order book for Paris, Amsterdam and Brussels in January, thereby giving investors in France the possibility to trade in ING shares via the Brussels or Amsterdam Exchange. All the aforementioned delistings are conditional on approval of the relevant authorities and exchanges.
The listings of (depositary receipts for) shares on Euronext Amsterdam and Euronext Brussels and of ADRs on the New York Stock Exchange are not affected by the delisting.
Press enquiries Raymond Vermeulen ING Group +31 20 541 5682 Raymond.Vermeulen@ing.com
ING Profile ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
LINK: http://hugin.info/130668/R/1270801/281667.pdf
ING Group
http://www.ing.com
ISIN: NL0000303600
Stock Identifier: XAMS.INGA
US: NYSE:ING
The decision to seek delisting is based on the following factors:
* The low volume of shares traded on the aforementioned exchanges. In the twelve months up to 1 November 2008, trading on the Frankfurt, Paris and Swiss exchanges amounted to a combined 0.3% of the total daily trading volume in ING shares. This share of volume has steadily been diminishing over the last years. * Technological and regulatory developments now give investors ample opportunity to trade shares on exchanges outside their country of residence. This reason for having a broad range of listings is now no longer relevant. * Maintaining a listing brings costs with it. Concentrating trading on a limited number of exchanges aligns with ING's ongoing focus on cost efficiency.
The delisting from the Frankfurt Stock Exchange, and SWX Swiss Exchange (Zürich, Basle and Geneva) is expected to be completed in the first quarter of 2009. ING's delisting from Euronext Paris will take place after Euronext moves to a single order book for Paris, Amsterdam and Brussels in January, thereby giving investors in France the possibility to trade in ING shares via the Brussels or Amsterdam Exchange. All the aforementioned delistings are conditional on approval of the relevant authorities and exchanges.
The listings of (depositary receipts for) shares on Euronext Amsterdam and Euronext Brussels and of ADRs on the New York Stock Exchange are not affected by the delisting.
Press enquiries Raymond Vermeulen ING Group +31 20 541 5682 Raymond.Vermeulen@ing.com
ING Profile ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
LINK: http://hugin.info/130668/R/1270801/281667.pdf
ING Group
http://www.ing.com
ISIN: NL0000303600
Stock Identifier: XAMS.INGA
US: NYSE:ING
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