Glory stripes
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Glory stripes
On May 3, 2016, Philips announced that the company would spin off its lighting equipment division, Philips Lighting Inc., in an IPO, selling at least 25% of its shares, and then selling all remaining Flying Lights shares over the next few years.
Announced on May 16, an initial public offering (IPO) of its lighting business will raise between 694 million and 844 million euros (about 785 million to 950 million U.S. dollars). On May 27, Philips Lighting was listed on the Amsterdam Stock Exchange in the Netherlands.
On May 17, 2016, Mulinsen announced that the company decided to cooperate with the combination of the alliance, participate in the bidding of OSRAM Licht AG to acquire some lighting business assets, submit a legally binding bid to OSRAM, and agreed to authorize Chairman Sun Qinghuan to sign the bidding document, etc. Legal documents related to the transaction. For a time OSRAM Lighting business company flew into the fan.
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