Navteq sets terms for $875 mln IPO

Newswire

WASHINGTON, June 29 (Reuters) - Navteq Corp., a Chicago-based affiliate of Philips Electronics of the Netherlands, filed with the U.S. Securities and Exchange Commission on Tuesday to sell up to $875 million in common shares for between $20.50 and $22.50 a share in an initial public offering of stock. All of the shares are being sold by Philips' Philips Consumer Electronics and NavPart IBV, which own 83.5 percent and 9.8 percent of the company respectively. Navteq will not receive any ...

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