According to ING, this decision is an effort to simplify the management and administration of its various employee share and option programmes.
The delta hedge portfolio currently holds 47.7 million (depositary receipts for) ordinary ING shares, representing 1.2% of the 3,832 million shares outstanding.
This portfolio will be used to fund the obligations arising from the various employee share and option programmes.
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services. As of 30 June 2010, ING served more than 85 million private, corporate and institutional clients in more than 40 countries.