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
Cirtek shares up 13.57% on listing
Cirtek shares up 13.57% on listing
Shares of semiconductor manufacturer Cirtek Holdings Philippines Corp. rose more than a tenth Friday in one of the most successful initial public offerings (IPO) this year.
Despite dismal market conditions, Cirtek shares jumped 13.57 percent yesterday to close at P7.95 each, outperforming the main blue-chip index, which fell 0.7 percent on the same day. The shares opened the day at P7.90, reaching an intra-day high of P8.27 and a low of P7.81.
Officials attributed the share’s performance to the company’s bright prospects, despite slowing demand from traditional electronics export markets such as the United States and Europe.
“We’re seeing growing demand from emerging markets in Asia,” Cirtek chair Jerry Liu said. “We’re seeing more orders in the fourth quarter of the year coming from Asia as well.”
Cirtek’s share sale did better than all other IPOs earlier this year. Industrial giant Megawide Construction Corp. saw itsshare price close flat on the day of its IPO last February. More recently, retailer Puregold Price Club Inc. saw its shares fall 12 percent on the day of its IPO early last month.
The Laguna-based Cirtek raised P295 million from the share sale, which was much lower than the P660 million it was allowed to raise by the Securities and Exchange Commission in September.
go back