Philips Lighting Shares Soar About 8 Percent After I.P.O. - Energy Watch News


Philips Lighting Shares Soar About 8 Percent After I.P.O.

Philips Lighting Shares Soar About 8 Percent After I.P.O. – On Thursday, Philips said that the offering had valued the lighting business at about $3.4 billion, based on market capitalization. Philips said that 37.5 million shares had been sold in the offering, representing 25 percent of the lighting business. If an overallotment of shares is fully exercised, Philips would own 71.25 percent of the lighting business after the offering. Philips has said it plans to fully sell down its ownership over the next several years. 5/27 NY Times

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