Bulb maker TCP plans initial public offering
An initial public offering is in the works for Shanghai, China-based TCP International Holdings, maker of energy-efficient light bulbs.
The supplier to Home Depot and Wal-Mart Stores (among many others) makes about 3,500 kinds of compact fluorescent light bulbs, about 275 varieties of even more efficient LEDs and 12 kinds of halogen bulbs.
The company hopes to raise $100 million through an offering of its common stock, according to a TCP filing with the Securities and Exchange Commission. It’s not yet known which exchange will be used.
TCP sales were $281 million in 2011, a decline of 2%.