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Philips Lighting unit valued at 3.0 billion euros in IPO
May 26, 2016 / 7:11 PM / a year ago

Philips Lighting unit valued at 3.0 billion euros in IPO

AMSTERDAM, May 26 (Reuters) - Philips said on Thursday it has set pricing in the initial public offering of its lighting arm at 20 euros per share.

The offer price implies a market capitalisation of 3.0 billion euros for the division, as a standalone company. Philips Lighting will be the world’s largest lighting maker.

Reporting by Toby Sterling; Editing by Alexandra Hudson

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