Archive
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- 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)
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- 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)
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- January (1)
- November (7)
- 2009
News & Updates
SEC approves semiconductor firm’s P660M IPO
SEC approves semiconductor firm’s P660M IPO
MANILA, Philippines – The Securities and Exchange Commission (SEC) en banc approved the P660 million initial public offering (IPO) of semiconductor assembler Cirtek Holdings Philippines Inc.
Cirtek Holdings will be offering 61.82 million common shares to the public, which represent 34% of the company’s issued and outstanding capital stock.
The offer shares will be listed under the first board of the Philippine Stock Exchange and shares will be sold at a maximum offer price of P10.68 per share.
The final offer price will be set on September 15, while the offer period will be from September 19 to 23. The listing date is on September 30.
The company said proceeds from the IPO will be used to acquire assembly equipment and construct a third building in its manufacturing complex in Laguna Technopark, Binan, Laguna.
Owned by businessman Jerry Liu, Cirtek Holdings is an independent complete solution provider for subcontract manufacturing of semiconductor devices. It provides turnkey solutions that include package design and development, wafer probing, wafer back grinding assembly and packaging, final testing of semiconductor devices and delivery and shipment to its customers.
Cirtek will be only the second company to conduct an IPO this year. The first was Megawide Construction Corp. raised P2.2 billion in proceeds when it was listed last February.
In 2010, Cirtek Holdings posted a net income of $3.6 million versus $960,000 in 2009 while net sales stood at $34.2 million up from 2009 level of $23.9 million.
The company has tapped BDO Capital and Investment Corp., the wholly owned investment banking subsidiary of BDO Unibank Inc., to be the underwriter for the offering.
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