On November 29th, Philips said it had sold 12% of its shares in Philips Lighting and cashed in 547 million euros. Philips sold approximately 17.1 million shares of Philips Lighting to institutional investors through an accelerated bookbuild offering at a price of 32 euros per share.
Philips said the move was part of its previously announced plans to sell all of Philips Lighting's shares in the next few years. According to Reuters, Philips hopes to eventually sell all of its controlling stakes in Philips Lighting, which was spun off in May 2016, in order to focus on medical devices and other healthcare products.
In recent years, in the context of the rapid rise of Chinese manufacturers and the fierce competition in the international lighting market, lighting giants including Philips, Osram, GE, etc. have been constantly adjusting the lighting business. As the world's largest manufacturer of lighting equipment, Philips' every move is affecting the nerves of countless lighting people.
According to Gaogong LED, Philips announced in early May 2016 that the company will conduct an initial public offering of its lighting division, Philips Lighting. On May 27, 2016, Philips Lighting was listed on the Euronext Amsterdam, the Netherlands, and Philips sold a 25% stake in Philips Lighting's initial public offering. This makes Philips Lighting the world's largest independent lighting manufacturer.
Wang Wei, president of Philips Lighting Greater China, said that Philips's lighting business, Philips Lighting, had an IPO in May. The Philips lighting business was listed on the Amsterdam exchange, mainly to better adapt to changes in the entire lighting industry. Including faster response to customers in the lighting industry.
In February and April of this year, Philips sold another share of Philips Lighting (LIGHT.AS). After this 12% stake was sold again, Philips’ shareholding in Philips Lighting fell from 41% to 29%.
According to the relationship between Philips Lighting and Royal Philips, Frans van Houten will withdraw from the regulatory committee at the end of this year, as Royal Philips' shareholding in Philips Lighting is now below 30%. In view of this, Kees van Lede will continue to serve as a member of the Supervisory Board prior to the Annual General Meeting (AGM) by 2018.
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