ING ING Groep NV

   By Tess Stynes 
 

ING U.S. Inc. (VOYA) said its board authorized the buyback of as much as $300 million in shares, including the repurchase of $250 million of its shares from Dutch parent company ING Groep NV (ING, INGA.AE).

ING U.S. shares rose 4.4% to $37.15 recently. Through Monday's close, the stock has soared 83% from its May initial public offering price of $19.50 a share.

ING Groep has continued to divest itself of shares in the U.S. retirement, investment and insurance company, aiming to shed the remaining stake in ING U.S. by the end of 2015.

The ING U.S. IPO was mandated after a bailout of ING Groep, which was directed to shed overseas assets after a 2008 government rescue.

Write to Tess Stynes at tess.stynes@wsj.com

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