The IPO of Philips Lighting was successfully completed this morning in the Netherlands with Philips Royal selling 25% of its stake at a price per share of €20. The shares had an indicative price range of €18.50 – €22.50, so the IPO was priced slightly below the midpoint. I directly sold my shares at the open of the market at €21/share, locking in a nice 5% profit. It could have been more since so far the open is the low of the day, but I don’t think trying to speculate of the movement of the stock price past the open has a positive expected value.
No position in Philips Lighting anymore