Published By Manila Bulletin
The Securities and Exchange Commission (SEC) has approved the planned P3.5 billion preferred shares offering by Cirtek Holdings Philippines Corporation.
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 preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).
The listed tech manufacturer expects to net P3.44 billion from the offer, assuming the oversubscription option is fully exercised.
The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).
The listed tech manufacturer expects to net P3.44 billion from the offer, assuming the oversubscription option is fully exercised.
Cirtek, through its semiconductor arm Cirtek Electronics Corporation (CEC), continues its collaboration with customers to develop expansion plans to address the global chip shortage that the industry is experiencing.
As quoted from the Integrated Circuit (IC) Insight’s market research report, the worldwide IC market is expected to display an increase of 24 percent growth this year which will be driven by a 21 percent jump in shipments and a 2 percent increase in average selling price.
“This is very encouraging news for industries in the semiconductor space,” Cirtek said.
A growth rate of 24 percent would be the third largest increase in the global IC market over the past 16 years, being surpassed only by the 33 percent surge displayed in 2010 and the 25 percent increase registered in 2017, according to the IC Insights market research report.
Early in the first quarter of this year, CEC started procuring additional equipment to support the surge in demand from its customers. This is at the back of the Cirtek Group’s manufacturing capacity already running at 100 percent.
The new equipment will initially drive 25 percent additional capacity in the second half of 2022. This expansion is complemented with booked orders received in the first quarter of 2021.
Aug 17, 2021
Published by Business World
CIRTEK Holdings Philippines Corp. has listed 249.44 million common shares in the local bourse, and will issue bonus detachable warrants of the same number, the company said on Monday.
In a press release, Cirtek Holdings said that the common shares sold through a stock rights offer are at an offer price of P5.50 per entitlement right each. The company set the ratio at one entitlement right for every 1.68 common shares.
Meanwhile, the company said that it is also issuing bonus detachable warrants which are free-of-charge to the investor. “[The warrants] shall be issue...
Read moreAug 16, 2021
Published by Manila Standard
Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Monday it raised P1.37 billion from its stock rights offering. Cirtek said in a disclosure to the stock exchange it listed 249.442 million common shares sold by way of rights offering at P5.50 per share. Shareholders as of July 1 were entitled to purchase 1 share for every 1.68 common shares owned. The shares came with 249.442 million bonus detachable warrants that will be issued free of charge to the investors and as part of the subscription to the entitlement rights. Each bonus detachable warrant e...
Read moreAug 16, 2021
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