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Philips Lighting is no longer an IPO to sell to Chinese buyers

Release Time:2016-06-23   Publisher:Administrator   Font Selection 【Big】【In】【Sall】
According to foreign reports, Philips announced Tuesday that the company will spin off its lighting division of Philips Lighting (Philips Lighting) initial public offering. This will allow Philips to focus on becoming a medical technology provider.
Philips is the world's largest lighting manufacturers, lighting business in 2015 revenue of 7.5 billion euros ($ 8.7 billion), operating profit of 331 million euros (about 382 million US dollars). The company said the Philips Lighting, Philips will sell at least 25% of the shares in the IPO of Philips Lighting in the Netherlands Euronext Amsterdam (Euronext) traded. The exact timing will depend on market conditions, and will sell the remaining portion in the next few years.
Philips CEO Frans van Houten (Frans van Houten) said the decision has "historic" significance for Philips, Philips lighting products can make access to other consumer electronic products and medical equipment products are. After the IPO, Philips plans to gradually sell the remaining shares of Philips Lighting. Philips announced Tuesday is not an issue price of Philips Lighting and the specific time of the IPO.
Market analysts expect Philips Lighting current valuation of about 50 billion euros (about 5.8 billion US dollars). Philips Lighting is currently in the global LED lighting market accounted for more than half of revenue, and with the rise of the Internet of Things, networking, programming LED lighting market prospects will be very broad. As an independent company, Philips Lighting will assume about 950 million euros of debt.
Philips said, the current CEO of Philips Lighting HONG ceremony (Eric Rondolat) will continue as CEO of the company after the IPO.