Research Desk Line-up: China Automotive Systems Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Delphi Automotive PLC (NYSE: DLPH), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=DLPH. The Company announced on September 8, 2017 that its subsidiary, Delphi Jersey Holdings PLC ("DPS"), has commenced a $750 million private offering of senior notes due 2025. DPS is the recently formed holding company for Delphi Automotive PLC's Powertrain Systems segment. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Auto Parts industry. Pro-TD has currently selected China Automotive Systems, Inc. (NASDAQ: CAAS) for due-diligence and potential coverage as the Company announced on August 10, 2017 its unaudited financial results for Q2 2017 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on China Automotive Systems when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DLPH; also brushing on CAAS. Go directly to your stock of interest and access today's free coverage at:
http://protraderdaily.com/optin/?symbol=DLPH
http://protraderdaily.com/optin/?symbol=CAAS
Delphi to Separate DPS from its Current Business
As per the news release on May 3, 2017, Delphi announced its intention to execute a tax-free spin-off of its Powertrain Systems segment into a new, independent publicly traded company, resulting in the creation of two independent companies, each with a distinct product focus and proven business model. The spin-off is expected to be completed by March of 2018, subject to customary market, regulatory and other conditions. Following the transaction, Delphi shareholders will own shares of both companies.
Usage of Offering's Net Proceed
- Post separation, DPS aims to fund operating cash, payment of taxes, fees, and expenses related to the spin-off by using the net proceeds from the offering and with borrowings under a $750 million term loan as part of its credit facilities.
- The Company also intends to distribute a special dividend to Delphi's shareholders by using the above proceeds.
- Proceeds of the offering will be deposited into escrow till the completion of the separation remains pending.
Delphi's Recent Partnerships
- Delphi Partners with Innoviz Technologies to Provide High-Performance LiDAR Solutions: On August 18, 2017, Delphi announced the signing of a commercial partnership agreement with Innoviz Technologies, a leading Israeli-based company developing LiDAR technology for the mass commercialization of autonomous vehicles. Innoviz's proprietary LiDAR sensing solutions will be integrated into Delphi's systems to provide automakers with a comprehensive portfolio of autonomous driving technologies.
- Transdev Partners with Delphi for Autonomous Transportation: On June 07, 2017, Transdev, a leading global provider of mobility services, and Delphi entered into a commercial partnership to develop a global, fully automated, mobility-on-demand (AMoD) transport system.
About Delphi Automotive PLC
Delphi Automotive PLC is a leading global supplier of technologies for the automotive and commercial vehicle markets. The Company operates major technical centers, manufacturing sites and customer support services in 46 countries. Delphi is headquartered in Gillingham, United Kingdom.
About Delphi Jersey Holdings PLC
Delphi Jersey Holdings PLC is engaged in the designing and manufacturing of integrated powertrain technologies that optimize engine performance, increase vehicle efficiency, reduce emissions, improve driving performance, and support increasing electrification of vehicles. The Company operates as a subsidiary of Delphi Automotive PLC.
Last Close Stock Review
On Friday, September 8, 2017, the stock closed the trading session at $96.66, marginally down 0.22% from its previous closing price of $96.87. A total volume of 1.26 million shares have exchanged hands. Delphi Automotive's stock price soared 12.80% in the last three months, 25.39% in the past six months, and 36.78% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 43.52%. The stock is trading at a PE ratio of 20.44 and has a dividend yield of 1.20%. At Friday's closing price, the stock's net capitalization stands at $25.85 billion.
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