Koninklijke Philips NV said on Monday that the company is more likely to sell its lighting business through an initial public offering (IPO) rather than a non-public sale on the grounds that the financial market sentiment improved.
According to a report by Bloomberg on April 4th, Royal Philips of the Netherlands has designated six banks for the possible initial public offering of the lighting sector and submitted draft documents to the Dutch market regulator. At the same time, the auction sale of lighting business continues. get on.
Philips has appointed CiTIgroup Inc., ING Groep NV, Morgan Stanley & Co LLC and Societe Generale SA as joint bookrunners. ABN Amro Group NV and CooperaTIeve Rabobank act as joint joint bookrunners. They said that in order to seek advice, these documents were submitted to the Dutch Financial Markets Authority (Autoriteit Financieele Markten, or AFM) before making a formal application. This move is part of Philips' CEO, Mr. Marriott's plan to sell the lighting division and shift the company's focus to healthcare.
To date, Philips has received several acquisition proposals for the business, which may be worth up to 5 billion euros. Philips is currently in the final stages of divesting its nearly 125-year-old lighting business, which is trying to focus on more profitable and growing healthcare technology businesses and related products.
Philips Center moves to future potential business: Health Technology Business
Philips announced its first quarter 2016 results. Sales of 5.517 billion euros, an increase of 3% over the same period last year of 5.339 billion euros. In the first quarter, EBITA was adjusted to 374 million euros. Net profit for the first quarter was 37 million euros, a decrease of 63% from the same period last year.
The growth in the first quarter was mainly driven by a 5% increase in the health technology portfolio. Adjusted EBITA rose 14% to 374 million yuan. However, the net profit fell from 100 million yuan to 37 million yuan, a drop of 63%, mainly due to the increase in related taxes after the business spin-off. The group said that the spin-off of the lighting business is still in progress.
Group CEO Fransvan Houten said that the first quarter results reflected strong growth in health technology business sales and the lighting business was boosted by several new products. He expects that the business outlook will not change this year and earnings will continue to grow.
Philips' health technology products saw a 5% increase in comparable sales in the first quarter, despite a decline in patent income. LED sales rose 27%, accounting for 50% of the entire lighting business. The lighting business has improved year by year for six consecutive quarters.
The Group continued to prepare for the spin-off or sale of the lighting business, and the market sentiment improved in the near future, increasing the chances of spin-off listing.
Tips:
· This IPhone 6S Plus LCD Digitizer Replacement includes the components as mentioned above, it does not include the small parts. Please do not confuse it with the iPhone LCD Assembly with Small Parts.
· Please test LCD assembly function one by one 100% before installation.
iPhone 6S/6S Plus LCD Digitizer
IPhone 6S Plus LCD,IPhone 6S Plus LCD Screen,IPhone 6S Plus Replacement
Shenzhen Aokal Technology Co., Ltd. , https://www.aokals.com