Finance History | 11 Wall Street — One Powertrain Share for Three, and DLPH Became APTV
· 2017-12
Unreviewed contributionBy kevin · · Report an issue
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Finance History | 11 Wall Street — One Powertrain Share for Three, and DLPH Became APTV
kevin
People treat Aptiv as a Swiss-registered auto-electronics supplier.
The name on this tape is a leftover after a powertrain book walked out.
The operating lineage starts as General Motors' Automotive Components Group in 1994, renamed Delphi Automotive Systems in 1995, and spun from GM in 1999. Old Delphi filed for bankruptcy in 2005.
A new Delphi Automotive PLC, formed in Jersey on 19 May 2011, listed on the New York Stock Exchange on 17 November 2011 under the ticker DLPH. Selling shareholders offered 24,078,827 ordinary shares at 22 dollars each and raised about 530 million dollars in 2011 currency. The company received none of the cash.
On 4 December 2017 Delphi distributed one ordinary share of Delphi Technologies PLC for every three Delphi Automotive shares held as of 22 November 2017. Regular-way trading in the remaining company began 5 December 2017 under a new name, Aptiv PLC, and a new ticker, APTV.
Delphi Technologies took the powertrain and aftermarket lines to the symbol DLPH. Aptiv kept electronics, architecture, and active safety.
The mechanism is a listed auto supplier splitting a commoditized engine-parts book from a higher-margin wiring and sensor book, then renaming the parent so the ticker matches the retained work.
Headquarters later moved from the United Kingdom to Schaffhausen. The pin is the Broad Street facade of the Exchange, where DLPH stopped and APTV started.
Photo: Arild Vågen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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