Koninklijke Philips extends Philips Lighting exit with popular €608m block

By Aidan Gregory
09 Feb 2017

Koninklijke Philips, the Dutch technology company, has sold a 17% stake in Philips Lighting, the electronics division it spun off in May 2016, for €608m, through a blow-out accelerated bookbuild that was covered in 20 minutes and attracted a large anchor order.

JP Morgan, Goldman Sachs, Citigroup and ING were bookrunners. All four banks were involved in Philips Lighting’s €862m IPO in May 2016.

The deal was launched shortly after the close, without price guidance. The leads had not conducted any wallcrossing, a banker on the deal said. The block ...

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