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Overallotment option in ASR Nederland IPO partially exercised


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Overallotment option in ASR Nederland IPO partially exercised

Dutch state holding company NL Financial Investments andASR Nederland NV saidthe 15% overallotment option in the latter's IPO was partially exercised.

Deutsche Bank AG, London branch, acted as stabilizationagent and partially exercised the overallotment option July 9. Of the 7.8million additional ordinary shares granted to the IPO's global coordinators onbehalf of the underwriters, a total of 2,249,885 overallotment shares were soldat the offer price of €19.50 per share.

Following the partial exercise of the overallotment option,the IPO comprises 54,449,885 ordinary shares, representing 36.3% of ASRNederland's share capital. NLFI will therefore hold an approximately 63.7%stake in the insurer.

Total proceeds from the IPO amount to approximately €1.07billion. NLFI will receive the net proceeds from the overallotment and willdistribute all net proceeds connected with the IPO to the Dutch state.

NLFI and ASR have agreed to a 180-day lockup period from thesettlement date of June 14.

ABN AMRO Bank NV, Citigroup Global Markets Ltd. and DeutscheBank AG, London branch, acted as joint global coordinators and, along withBarclays Bank Plc, Coöperatieve Rabobank UA, HSBC Bank Plc and ING Bank NV, asjoint book runners for the offering. Joh. Berenberg Gossler & Co. KG wasco-lead manager.

N.M. Rothschild & Sons Ltd. served as financial adviserto NFLI, while UBS Ltd. was the financial adviser to ASR.