Netherlands-based NIBC Holding NV announced its intention to proceed with an IPO of approximately 35% of its outstanding and issued shares on Euronext Amsterdam.

The planned offering will consist entirely of existing shares held by entities operated by U.S.-based private equity firm J.C. Flowers & Co. LLC, the Dutch lender said Feb. 26. The offering is expected to take place in the coming weeks, subject to market conditions and other factors.

The offering is expected to be available to institutional investors and retail investors in the Netherlands, along with a private placement to certain qualified institutional investors in other jurisdictions. Net proceeds of the IPO will go to the selling shareholders.

Citigroup Global Markets Ltd., Deutsche Bank AG's London branch and Morgan Stanley & Co. International Plc will act as joint global coordinators for the offering and, together with ABN Amro Bank NV and ING Bank NV, as joint book runners. NIBC Bank NV is acting as the lead manager.