Philips Lighting Exercises Over-Allotment Option

Following Philips Lighting IPO announcement in May, the company recently issued a press release announcing exercise of over-allotment option. The press release intended for financial investors was banned from publication.

In an earlier brief released by Reuters, the company granted underwriters option to acquire up to 5.625 million additional issued ordinary shares at price of EUR 20.00 (US $ 22.52) per share

A brief overview of the press release covers the amount of shares offered in the IPO, which is close to 28.75% indicating Philips will retain around a 71.25% stake in its lighting business. The Dutch group’s stake will be subjected to a lock-down period for six months.

For further details please see Philips Lighting press release section.

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