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.
Jul 14, 2021
Published By Revin Mikhael D. Ochave Business World
A UNIT of technology company Cirtek Holdings Philippines Corp. has extended a master supply agreement with two telecommunication companies in North America.
Cirtek said in a regulatory filing on Monday that the agreement between its telecom base station antenna unit Quintel USA, Inc. and two unnamed carriers provides for a business extension of another five years.
“This comes at a time following a series of new product introductions released by Quintel when fifth generation (5G) is at an inflection point,” Cirtek said.
“Quintel’s 5G products ...
Read moreSep 14, 2020
QUINTEL WINS NEW TELCO CONTRACT UNDER MASTER PURCHASE AGREEMENT
Quintel USA, Inc., a wholly owned subsidiary of Cirtek Holdings Philippines Corp., has fully concluded contract signing on a Master Purchase Agreement with a telecommunications operator ranking among the top five full-fledged wireless carriers in North America. Having spent close to half a billion dollars in acquiring new spectrum in auctions alone, the carrier is primed to launch full commercial services on fresh spectrum for 5G services 2021 beyond. As part of providing pioneering and constantly evolving innovative antenna solut...
Read moreOct 29, 2021
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 ...
Read more