Philips steps into initial public offer with 25% shares

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Dutch electronic giant, Philips, announced that May 27 it will finally come out with a long-awaited initial public offering (IPO) of 25% of its shares, through which it hopes to be able to collect nearly one billion euros.

The company, based in Amsterdam, announced it will offer about 37.5 million shares with the ability to increase emissions if interest exceeds the offer, and that it hopes to collect between EUR 694 and 970 m, AFP agency reported.