Archive
- 2022
- 2015
- 2014
- July (9)
- Cirtek Holdings acquires local tech company
- Cirtek Holdings to acquire Remec Broadband
- Cirtek buys tech manufacturing firm
- Cirtek acquires IT product maker
- Cirtek, Remec seal $10-M purchase seal
- Cirtek Electronics targets sales of $100 million
- Cirtek on track for $100-million sales
- Cirtek expects $100-m revenues
- Semiconductor maker Cirtek buys Remec Broadband Wireless
- February (2)
- January (3)
- July (9)
- 2013
- 2012
- 2011
- November (7)
- Cirtek unit partners with German firm
- Cirtek shares up sharply after listing debut
- Cirtek starts share offer today
- Cirtek shares up 13.57% on listing
- Telefunken taps Cirtek unit to supply power regulators
- Cirtek Holdings Philippine Corporation conducts maiden listing
- Cirtek takes in Telefunken of Germany as tech partner
- October (8)
- Cirtek drops BDO Capital as underwriter for IPO
- Cirtek to push through with IPO
- Semiconductor firm Cirtek still keen on P660-M IPO
- Cirtek bullish despite exports drop
- Company doubling plant’s chip capacity
- Cirtek to brave stock market next month for listing debut
- Cirtek expands reach in Europe, inks deal
- Electronics firm carves out niche in slumping market
- September (4)
- July (2)
- June (4)
- May (2)
- January (1)
- November (7)
- 2009
News & Updates
Semiconductor firm plans P660-M IPO
Semiconductor firm plans P660-M IPO
MANILA, Philippines – Semiconductor manufacturer Cirtek Holdings Philippines Corp. plans to raise P660 million ($15.4 million) via an initial public offering, official filings showed, with the firm possibly becoming just the second IPO in the country this year.
The company plans to sell up to 61.82 million shares, or 34% of issued and outstanding capital stock after the offer, at a maximum price of P10.68 each to finance working capital, recent acquisitions, and the purchase of new machinery and equipment for its three-year expansion programme.
It did not indicate any timing for the IPO. BDO Capital and Investment Corp., a unit of the Philippines’ largest lender Banco de Oro Unibank, is underwriter for the offer.
The country’s sole IPO so far this year was by Megawide Construction Corp., which raised about $52 million in February. The power arm of San Miguel Corp. is also planning an initial public offer this year, but it did not indicate the timing of the issue.
Caution ruled in the equities market in the first half, largely due to worries about the pace of the global economic recovery and the euro zone’s debt problems.
Under its expansion programme, Cirtek plans to construct a third building at its manufacturing complex in Binan, Laguna province south of the capital Manila in the current September quarter.
Cirtek, which has been in business for more than 25 years, provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, and final testing of semiconductor devices.
The Philippines accounts for about 10% of the world’s semiconductor manufacturing services, including for mobile phones and micro processors. Exports of the electronics and semiconductors industry account for about half of the country’s total shipments.
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