Philips Lighting shines in Dutch pipeline

摘要

Dutch issuance has dominated the European ECM pipeline so far in the second quarter, providing some of the year's largest and highest-profile deals, yet activity in the rest of the region remains muted. philips lighting began bookbuilding last week on an up to €843.75m Euronext Amsterdam IPO that is smaller than some bankers had predicted during pre-marketing but will still be the largest IPO in the region so far this year - at least until insurer ASR NEDERLAND'S privatisation is completed two weeks later. So far in 2016, 30 IPOs of more than US$50m have closed in EMEA, of which Switzerland's VAT Group is the largest at SFr621m (US$626m). Philips Lighting will comfortably exceed this, even with pricing at the bottom of the range.