Stibbe advises on the IPO of Philips Lighting
Stibbe advises Goldman Sachs and J.P. Morgan (as joint global coordinators) and the other underwriters on the IPO of Philips Lighting.
The offering consists of a sale by Royal Philips of 43.125 million ordinary shares in Philips Lighting at a price of EUR 20.00 per share. The total value of the offering amounts to EUR 862.5 million. The price per share of EUR 20.00 implies a market capitalization for Philips Lighting of EUR 3.0 billion. Trading in the shares on Euronext Amsterdam commenced on Friday 27 May 2016.
Philips Lighting is a global market leader in the general lighting market with a unique competitive composition and recognized expertise in the development, manufacturing and application of innovative lighting products, systems and services. After the IPO Royal Philips will retain a majority holding with the aim to fully sell down over the next several years as Royal Philips will focus on its HealthTech businesses.
