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Philips Lighting Shares Soar After $839 Million Dutch IPO

  • Shares sold at 20 euros each, near midpoint of marketed range
  • Spinoff underscores shift by Philips to health-care market
Bloomberg business news

The Case for Investing in Philips Lighting

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Philips Lighting NV shares jumped in their trading debut after an initial public offering of the world’s biggest general lighting business raised 750 million euros ($839 million) for Dutch parent company Royal Philips NV.

The shares rose 8 percent to 21.61 euros at 10:25 a.m. in Amsterdam Friday after investors paid 20 euros each in the sale of a 25 percent stake. The pricing gave Philips Lighting an implied enterprise value of 4.5 billion euros, including debt and debt-like items, the parent company said late Thursday.