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 be used to refinance Cirtek’s existing debt and for partial payment of maturing debt and for capital expenditures and working capital of its subsidiaries.
The offering will run from Nov. 25 to Dec. 3, in time for the listing of the preferred shares on the PSE on Dec. 10, according to Cirtek’s timetable submitted to the SEC.
PNB Capital and Investment Corp. is the sole issue manager, lead underwriter and sole book runner for the offer.
Cirtek is a major global technology firm and electronics manufacturer. It is the holding company of Cirtek Electronics Corp. and Cirtek Electronics International Corp.
Through its subsidiaries, the company designs, produces and delivers station antenna systems for wireless communication. It also manufactures solutions for value-added, highly integrated radio frequency, microwave and millimeterwave technology products, and provides full service/turnkey solutions including wafer probing, wafer back grinding, assembly, packaging and final testing of semiconductor devices.
The company’s products cover a wide range of applications and industries, including communications, consumer electronics, power devices, computing, automotive and industrial.
Dec 03, 2021
Published by Inquirer.net
Electronics manufacturer Cirtek Holdings Philippines Corp. is set to conclude today, Dec. 3, the public offering of as much as P2.5 billion worth of perpetual preferred shares, proceeds from which will be used to refinance debt and fund the expansion of key subsidiaries.
Cirtek’s preferred shares have two series: one with a synthetic maturity of three years carrying an interest rate of 6.5864 percent per annum, and another with a synthetic maturity of five years carrying an interest rate of 7.7506 percent per annum.
Higher divident rate The synthetic maturity means th...
Read moreJul 05, 2021
By Faye Almazan The Manila Times
Listed Cirtek Holdings Philippines Corp. on Wednesday said the Philippine Stock Exchange Inc. (PSE) has approved its stock rights offering (SRO) with bonus detachable warrants.
In a disclosure to the exchange, the company said the PSE approved its listing application last June 23.
Cirtek intends to list 249.44 million common shares and 249.44 million Bonus Detachable Warrants, with 249.44 million underlying common shares.
The firm said it has set the final offer price of its SRO at P5.50 and the final exercise price of its bonus detachable warrants also at P5.5...
Read moreJan 14, 2025
Published by The Daily Tribune
Analog Devices, Inc. (ADI), the American multinational semiconductor company, has recognized Cirtek Advanced Technologies and Solutions Inc. (CATSI) as the leading contract manufacturer for its Evaluation Boards Product Line for the fourth quarter of last year.
CATSI, which previously held the third position during the first and second quarters, steadily climbed to become the second-ranked manufacturer by the end of the third quarter of 2024.
The Evaluation Board Product Line is a crucial business unit for ADI, enabling the company to showcase its analog, mixed-s...
Read more