Osram no longer a Siemens subsidiary
In contrast to normal IPOs, Osram shares were not offered to investors. Instead, owners of Siemens shares as Osram’s parent company got Osram shares as dividend – one Osram share for every ten Siemens shares. Though some observers believe that this procedure highlights Siemens’s desire to get rid of its subsidiary, the shares were traded higher that estimated – at least on day one of Osram’s new existence as a public company. In the afternoon, the share was traded at €23.60, significantly above pre-IPO estimates of €20.85. Siemens continues to hold 17% of the stock, another 2.5% is in the hands of the Siemens Pension Trust.
Osram claims to be the worldwide number two in the Lighting market after Philips. It covers the entire value chain of lighting technology including semiconductor production for LEDs. Osram Opto Semiconductors remains a fully-owned subsidiary.
In the run-up to the public listing, reports surfaced that Osram will cut up to 8000 jobs from a total of some 39.000. 25% of its sales (€5.4 billion in 2012) have been achieved with LED products.
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