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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Koninklijke Philips NV | NYSE:PHG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.35 | 1.69% | 21.07 | 21.15 | 20.955 | 20.97 | 924,186 | 01:00:00 |
From Apr 2019 to Apr 2024
AMSTERDAM—Royal Philips NV said it sold shares in its 125-year-old lighting division at the lower end of the targeted range, valuing the business at €3 billion ($3.36 billion).
The Dutch technology group sold a 25% stake in Philips Lighting for €20 a share, according to a statement released Thursday. The pricing was slightly below the midpoint of a range of €18.50 to €22.50 announced last week.
Shares in Philips Lighting will start trading on Euronext Amsterdam on Friday. The offering is one of the largest listings in Europe so far this year.
The sale, which was first announced in September 2014, is the final step in a years-long restructuring spearheaded by chief executive Frans van Houten. It will mark the end of Philips as a sprawling conglomerate that produced everything from lightbulbs and television sets to medical scanners and coffee machines.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
May 26, 2016 16:45 ET (20:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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