Thus, the price comes out in the middle of the previously indicated range of 18.50 to 22.50 euros per share. The market value of Lighting exceed EUR 3 billion. Including debt is around 4.5 billion euros. Philips has to issue 750 million euros.
One-quarter are from the lighting division of shares brought to the stock exchange in Amsterdam. The shares, which the stock symbol “LIGHT” meekrijgen are offered to institutional investors and private investors. According to Philips, there was a great demand for the pieces. The company wants to do the remaining shares years of hand.
Philips wants to completely focus on health technology and therefore splits off the lights put out. CEO Frans van Houten reported to be happy in a note with great interest of investors and the price of the IPO. With this step, Philips will be able to better focus on health technology, says Van Houten. He is convinced that the two companies as separate listed companies will have a good future.
CEO Eric Rondolat Lighting also reported to be pleased with the strong demand from investors.
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