Philips' lighting unit IPO more likely as profit rises
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Amsterdam
ROYAL Philips NV is leaning towards holding an initial public offering (IPO) of its historic lighting business after first-quarter profit beat estimates and an attempt at a private sale has so far been unsuccessful.
"With equity markets' sentiment improving compared to the first couple of months of the year, an IPO increasingly appears a more likely outcome," Philips said on Monday, adding it has not yet decided on all proposals in the private sale process and that a decision will be made shortly.
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