FRANKFURT (Reuters) - Philips (AS:PHG) is still deciding on how large a stake it will sell in its lighting business when it lists the division on the stock market, the Dutch company's Germany chief said in an interview with German newspaper Welt am Sonntag.
"It is not yet decided how many shares will be floated," Peter Vullinghs said. "Philips will certainly not remain the main shareholder," he was quoted as saying in an excerpt of an article to be published on Sunday.
Philips told shareholders in March it would probably initially offer only a minority interest in the listing. This initial divestment would probably be followed by one or more secondary offerings or other transactions, aiming to fully divest the unit over time, it said at the time.
Philips plans to list the business by early 2016 to focus on medical technology and selected consumer products.
The lighting unit would be operated as an independent entity but remain within the Philips family, Vullinghs told the paper.
The Dutch company has already sold its lighting components division, to Chinese technology fund Go Scale Capital for 2.8 billion euros (2 billion pounds) in March.