Philips plans IPO for lighting unit

Philips Healthcare parent Royal Philips said it currently intends to pursue an initial public offering (IPO) to implement the planned spin-off of its lighting unit.

The company signaled the plan for the lighting business in its agenda for the 2015 annual shareholders meeting in May. Philips noted that other options besides the IPO will also continue to be reviewed for separating the lighting business.

Philips announced in September 2014 that it will split into two companies. Its healthcare and consumer lifestyle activities will be consolidated into a new firm called HealthTech, while the lighting unit will become its own company, according to Philips.

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