The lighting department intends to spin off PHILPS next year IPO

According to the Wall Street Journal reported that the Holland Electronics Group PHILPS (Philips) said on Thursday that it plans to split its lighting sector, and in the next year's initial public offering of shares (IPO).

PHILPS said it was looking at other options for its lighting sector, but is expected to be IPO in the first half of next year, depending on market conditions and other relevant circumstances.

PHILPS in the notice to shareholders that the minority could only be sold at the beginning of the lighting business, the long-term goal is to completely unwound, and any proceeds will be invested in the health care sector.

PHILPS did not disclose to any IPO or from the sale of shares to raise money, but said the 2 companies will make segmentation can focus on strengthening its own operation, let PHILPS rely more on health care equipment and consumer lifestyle products.

PHILPS said on Thursday that its lighting operations, including all business activities, assets and liabilities, will be converted into an independent holding company structure. But intends to split out of the lighting operation, will not include automotive lighting and Lumileds (LED component) operations. PHILPS will vote at the May 7th annual general meeting of the split proposal.

Investment firm Kepler Cheuvreux analyst Olu Fuson (Peter Olofsen) said on Thursday, PHILPS said, suggest it may need more months to split the lighting sector, highlighting the complexity. PHILPS's previous time frame, meaning its lighting operations will be in the first quarter of next year IPO.

Olu Fuson stressed that in many countries, PHILPS lighting and health care as one of "100 years or more" history, in addition, how to split like human resources, information technology as much as about 500 million euros (about 3 billion 302 million yuan) of the internal service cost, will affect their profit will be another thorny issue.

PHILPS said in September last year that it would split into 2 companies and its lighting operations split. And this division, it is after several profit warning and criticized the slow action of slow corporate structure, the latest action.

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