Philips Lighting's balance sheet allows for potential takeovers
Philips Lighting, which started floating on the Euronext on Friday 27 May, is expected to initiate takeovers, Dutch-language De Telegraaf wrote in an analysis of the company after its IPO. The company has a strong enough balance sheet to realize its ambitions, CEO Eric Rondolat remarked in the report.
Thus, the company will not have to finance potential acquisitions through share emissions, the report noted.
The global lighting market could see the kick off of a consolidation wave, the item added. Philips Lighting is currently the global market leader, even if its market share stands between 8% to 12%, the report noted.
In a separate report about Philips Lighting's IPO, Het Financieele Dagblad noted that after the initial float of a quarter of shares by its parent company Royal Philips, it is not allowed to sell any Lighting shares for 180 days. The company is expected to sell all Philips Lighting shares in two to three years, the item added.
link to original article in De Telegraaf
link to original article in Het Financieele Dagblad
de Telegraaf, Het Financieele Dagblad