Cirtek Holdings lists SRO shares

Cirtek Holdings Philippines Corporation (stock symbol: TECH) opened the trading week with the listing of its 249.44 million stock rights offering (SRO) shares at the Philippine Stock Exchange (PSE).

The holding company which engages in semiconductor assembly and testing operations raised Php 1.37 billion from the SRO to refinance debt and for the working capital of its subsidiaries.

In his welcome message, PSE President and CEO Ramon S. Monzon cited the competitive environment of the technology solutions space given the rapid advancement in this field and expressed optimism over Cirtek’s plans for its subsidiaries.

“I understand that Cirtek is eyeing new markets that would expand the product portfolio of its subsidiaries.  With these activities, Cirtek’s units are well-positioned to benefit from the upbeat prospects in the semiconductor and the antenna spaces,” he said.

Cirtek’s SRO provided shareholders with bonus detachable warrants. The said warrants were also listed at the PSE under the stock symbol TECHW.

Photo shows from left, by row: PSE President and CEO Ramon S. Monzon, TECH Vice Chairman Jorge Aguilar, PSE Chairman Jose T. Pardo, TECH Executive Vice President and CFO Brian Gregory T. Liu; PSE Director Ferdinand K. Constantino, Cirtek Holdings Director Bernardino Ramos, PSE Director Chief Justice Teresita J. Leonardo-De Castro (ret.), TECH Director Hector Villanueva, PSE Director Consuelo D. Garcia, TECH Executive Vice President and Chief Technology Officer and CEO of Quintel USA Michael T. Liu; PSE Director Diosdado M. Arroyo; TECH Director Justin T. Liu, PSE COO Roel A. Refran, TECH Director Corazon P. Guidote, PNB Capital & Investment Corp. President and CEO Gerry B. Valenciano and First Abacus Financial Group Chairman & CEO Paulino S. Soo

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