Philips plans sale of Navteq stake
Date: Tuesday, March 29 @ 16:50:36 UTC
AMSTERDAM (MarketWatch) -- Royal Philips Electronics (PHG) said Tuesday that NAVTEQ Corporation (NVT) - in which Philips owns approximately 37.1% of the issued share capital - has filed a registration statement on Form S-3 with the United States Securities and Exchange Commission, SEC, for a contemplated secondary offering of 30,000,000 NAVTEQ shares of common stock (or an offering of approximately USD 1.3 billion based on the closing price of USD 44.37 per share on March 28, 2005.
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Thanks to Kar98 for the hint.