By Marisa Wong
Morgantown, W.Va., Dec. 8 – Cirtek Holdings Philippines Corp. announced it raised $67 million from an issuance of 6 1/8% dollar-denominated preferred shares.
BPI Capital Corp. and RCBC Capital are the joint lead underwriters. BPI Capital is the issue manager and bookrunner.
The company said that demand for the preferred shares was significant, in particular from retail investors.
Indicative demand was $110 million at the higher end of the pricing range of 6¼% to 6¾%, the company’s chief financial officer, Anthony Buyawe, said in a press release.
Proceeds will be used to help fund acquisitions, for debt retirement, for expansion and for research and development.
Through its subsidiaries, Cirtek provides services including wafer probing, wafer back grinding, assembly, packaging and final testing for semiconductor devices and offers manufacturing solutions for radio frequency (RF), microwave and millimeterwave technology products. The company is based in Laguna, Philippines.
| Issuer: | Cirtek Holdings Philippines Corp.
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| Issue: | Dollar-denominated preferred shares
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| Amount: | $67 million
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| Underwriters: | BPI Capital Corp. (manager and bookrunner) and RCBC Capital
|
| Dividend rate: | 6 1/8%
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| Announcement date: | Dec. 8
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