Phoenix proceeds with IPO plan Eduardo Francisco of BDO Capital - TopicsExpress



          

Phoenix proceeds with IPO plan Eduardo Francisco of BDO Capital said Phoenix Semiconductor Philippines will still raise P2.66bn from the sale of 706.82mn shares at a maximum price of P3.76/share after it pushed back its August IPO due to concerns over the ghost month. Phoenix, a local supplier of Samsung, will sell 286.09mn primary shares, 286.09mn secondary & 134.63mn overallotment shares in case of strong demand. Proceeds will fund its expansion program via acquisition of machines, building improvement & construction of new facility within its 15ha. compound in Clark Freeport Zone, Pampanga. It is a unit of STS Semiconductor & Telecommunications, which in turn is owned by Seoul-based Bokwang, a conglomerate with interests in leisure, retail, advertising & culture, financial services & manufacturing.
Posted on: Thu, 04 Sep 2014 04:00:31 +0000

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