Auto Service World
News   November 18, 2011   by Auto Service World

Delphi Goes Public, Shares Hit the NYSE

Delphi Automotive PLC shares have begun trading on the New York Stock Exchange.
Shares are on the (NYSE) are listed under the ticker symbol “DLPH.”
“Today is an important milestone for Delphi,” said Rodney O’Neal, Delphi president and chief executive officer. “The Delphi team has created a business with outstanding technology and industry leading performance. We are well positioned to expand both top and bottom line growth.”
Delphi continues to drive technology leadership with over 16,000 scientists, engineers, technicians and technical professionals dedicated to providing innovative product solutions for global customers.
“Our portfolio of safe, green and connected technologies is driving growth through enhancing the safety of drivers and their passengers, addressing regulatory matters that call for environmentally-friendly solutions, as well as addressing customer needs for fuel efficiency and connectivity to their daily lives while in the vehicle,” added O’Neal. “We continue to execute our plan to deliver a pipe-line full of high tech, market-relevant product offerings.”
Goldman, Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and Morgan Stanley & Co. LLC served as joint bookrunners of the offering.

Delphi fell 3.1 percent in its trading debut yesterday after raising $530 million in an initial public offering that priced the stock at the low end of a range. Today, Delphi rose 0.3 percent to $21.40 at 12:08 p.m. New York time.
The Troy, Michigan-based company, which emerged from bankruptcy in 2009, sold 24 million shares for $22 each after offering them for $22 to $24 apiece. Most of the proceeds went to the largest shareholder, Paulson & Co., led by John Paulson, the billionaire hedge-fund manager having the worst year of his career.

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