Philips wants to completely focus on health technology and therefore splits the light put out.
It is at least a quarter of the shares offered to institutional investors and private individuals. The majority shareholder Philips holds initially, the coming years will be completely phased out.
Philips Lighting is headquartered in Eindhoven and in 2015 posted sales of 7.5 billion euros. The company continues under the management before its current CEO, Eric Rondolat. The products hold the Philips logo.
Historical
Philips CEO Frans van Houten speaks of a ” historic ” decision for the group, which began in 1891 with the production of light bulbs. in his eyes the Lighting IPO will strengthen the position of the company in the field of modern lighting.
In recent years, the lighting division has undergone a transformation, the transition from conventional lamps to LED lighting. Last quarter, the ongoing contraction in the area of traditional lamps for a slight decrease in the total sales of Lighting. In the course of this year, total sales should start picking up again expected Philips.
Dividend
Philips Lighting shareholders expected to provide an annual dividend of 40 to 50 percent of net profit . The first disbursement is expected to take place in 2017 and is based on the performance of 2016.
Van Houten and CFO of Philips Abhijit Bhattacharya be commissioner at Lighting. Current Philips Commissioner Kees van Lede is following the IPO, the move to the supervisory board of the lighting business. Since Rene van Schooten gets the role of CFO. The board will be expanded over time with a third person
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