ING to participate in Bank of Beijing share offering
(WorldNews Netherlands)

Amsterdam, 25 April 2017, 16:02 CET ING intends to participate in the private placement by Bank of Beijing which today filed its intention to issue approximately 2.4 billion ordinary shares to raise up to approximately RMB 24 billion (approximately EUR 3.2 billion at current exchange rates) with the Chinese Securities and Regulatory Commission. ING`s planned subscription will not exceed 221 million shares (around 9.2% of the total placement) or the equivalent of EUR 300 million (approximately RMB 2.2 billion at current exchange rates). After the offering, ING expects to maintain its position as the largest shareholder in Bank of Beijing with a stake of approximately 13.0%, down from the...