Cirtek targets 20% increase in production of electronic parts

Jan 12, 2021

Cirtek targets 20% increase in production of electronic parts

Business World

CIRTEK ELECTRONICS Corp. plans to increase local production by 20% as it partners with major customers to provide parts for consumer electronics and electric charger products.

In a statement on Monday, Cirtek said that it will be providing services to develop a semiconductor package widely used for smart phones, personal computers, laptops, wireless communications, and other consumer electronics.

“These devices are predicted as major factors that will boost the global semiconductor industry growth for 2021,” Cirtek said.

The firm will also be working with an American company on high power transistors that will “increase efficiency and reliability” of energy power systems and chargers for electric vehicles, power adapters, and inverters.

Cirtek plans to scale up its production starting in the first quarter of 2021.

Electronics exports industry group Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) in November announced that it revised its 2020 projection to a five percent decline, from the earlier forecast of 15% decline after industrial, consumer, mobility, and medical electronics demand increased.

The industry group expects 7% growth for 2021.

Shares in Cirtek jumped 11.8% or 87 centavos to P8.24 each on Monday. — Jenina P. Ibañez

  • Oct 28, 2021

    SEC clears Cirtek’s P3.5-B shares offer

    Published by Business World Online

    THE Securities and Exchange Commission (SEC) has given Cirtek Holdings Philippines Corp. the go signal to offer as much as P3.5 billion of preferred shares to the public.

    “In its meeting on October 26, the Commission En Banc resolved to render effective the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares,” the commission said in an e-mailed statement on Wednesday.

    According to the latest timetable submi...

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  • Jul 05, 2021

    Cirtek gets PSE nod for stock rights offer

    By Maria Romero Tribune PH

    Laguna-based Cirtek Holding Philippines Corporation has secured approval from the Philippine Stock Exchange (PSE) for its stock rights offer (SRO) with bonus detachable warrants.

    In a regulatory filing on Wednesday, Cirtek said it has also set its final offer price at P5.50 per Entitlement Right and final Exercise Price at P5.50 for the bonus detachable warrants.

    The company intends to list 249 million common shares or right shares and another 249 million bonus detachable warrants with 249 million underlying common shares.

    Investors who hold common shares of the comp...

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  • Oct 29, 2021

    SEC approves Cirtek’s preferred share issue

    Published by Philstar

    MANILA, Philippines — The Securities and Exchange Commission (SEC) has approved the public offering by Cirtek Holdings Philippines Corp. of up to P3.5 billion worth of preferred shares.

    In a meeting on Oct. 26, the SEC approved the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at a price of P50 per share, with an oversubscription option of up to 20 million preferred shares.

    The listed tech manufacturer expects to net P3.44 billion from the offer, assuming the oversubscription option is fully exercised, proceeds of which will ...

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