Philips (Royal Philips NV) today announced that it will spin off its lighting business Philips Lighting (Philips Lighting) conduct IPO (initial public offering), so their best to become a supplier of medical technology in the future. Philips said in a statement that the IPO will be placed on Amsterdam's pan-European stock exchange (Euronext), which will include Philips to sell at least 25% of its shares in Philips Lighting. After the IPO, Philips plans to sell all of its remaining shares in Feipu Lighting in the next few years. However, the IPO issue price and the time of the IPO have not been announced.
Philips has been looking for suitable buyers for the lighting business for a long time, but has never been able to do so. The announcement of its IPO this time marks the end of its previous efforts to find buyers, which means that its lighting business will be separated from Philips. In the lighting market, Philips still has a world leading position. Philips CEO Frans van Houten claims that this decision is historic for the Dutch company.
Founded in 1891, Philips initially produced carbon filament bulbs at a plant in the southern Dutch city of Eindhoven. It became a global leader in bulb production and later entered the consumer electronics and medical electronics markets, producing products from X. Ray equipment to electric shavers and television sets.
“We believe that Philips Lighting will become an global leader in connecting LED lighting solutions as an entity after its launch,†said Marriott. “At the same time, Philips will focus on exciting and The rapidly growing medical technology market."
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