Philips Says Lighting Business IPO Could Raise More than $950 M

News Source: 

Philips has decided on the price for its initial public offering for its lighting unit recently, and estimates the spinoff could raise between EUR 694 million and EUR 844 million (US $785 million to US$ 954 million), reported Wall Street Journal.

The shares of its lighting business will be sold between EUR 18.50 and EUR 22.50, implying the market capitalization of EUR 2.78 billion to EUR 3.38 billion.

The company is scheduled to announce the final offer price by May 26, while trade of the shares on Euronext Amsterdam is to start by May 31.

Philips will sell 37.5 million Philips Lighting shares, or equivalent to 25% of the business, in the float to both institutional and individual investors.

According to the report, Philips will be offering underwriters the option to buy an extra 3.75% of its business, which could boost the total funds raised from the IPO to EUR 970 million, depending on the final issue price.

Philips CEO Frans van Houten said the new company will be focused on further expanding its global presence in general lighting market, and driving the transition to LED and connected lighting systems and services.

The lighting business reported sales of EUR 7.4 billion in 2015, making the company one of the top manufacturers in the business. Philips Lighting comprises a contracting lamps operation business and fast-growing LED luminaires, systems and services.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

With up to 2000lm per LED, LUXEON 7070 delivers the power, efficacy and solution cost reductions luminaire manufacturers need   San Jose, CA – August 31, 2021 – More lumens, higher efficacy, and lower system costs are the... READ MORE

 - Osconiq E 2835 CRI 90 (QD) expands ams OSRAM's portfolio of lighting solutions that provide very high quality in a new mid-power LED. - In-house Quantum Dot technology ensures outstanding efficiency values of over 200 lm/W, even at... READ MORE