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.