• Phoenix Semiconductor gears up for P2.65B IPO


    Clark-based semiconductor firm Phoenix Semiconductor Philippines Corp. is pushing for its P2.56 billion market debut within the year via an initial public offering (IPO) on the Philippine Stock Exchange (PSE).

    Eduardo Francisco, president of BDO Capital & Investment Corp., told reporters that Phoenix Semiconductor, the local semiconductor firm of Korea-based STS Semiconductor & Telecommunications Co. Ltd., is gearing up for its planned IPO this year after it deferred a planned listing in June.

    “They still want to raise P2 billion from equity IPO. So we just have to update the investors,” Francisco said, adding that “the challenge is that we have to re-market it to the retail investors.”

    BDO Capital is one of the issue managers, underwriters and bookrunners of the IPO.

    Earlier, Phoenix Semiconductor said it aims to debut on the local bourse this year, to initially sell to the public 706.81 million shares priced at P3.76 per share, and to list a total of 2.356 billion common shares on the PSE.

    The 706.81 million common shares will be issued in three parts: 286.09 million new shares valued P1.07 billion, another 286.09 million existing shares also equivalent to P1.07 billion, and 134.63 million shares for oversubscription option worth P506.2 million in case of strong demand.

    The IPO’s net proceeds will be used for acquisition of machinery and production equipment, and expansion of the firm’s facilities.

    Barring hitches, Phoenix Semiconductor will be the fifth company to debut on the stock market, following Trans-Asia Petroleum Corp., Top Frontier Investment Holdings Inc., and the IPOs of Double Dragon Properties Corp and Century Pacific Food Inc.

    Established in January 2010, Phoenix Semiconductor produces a wide range of SD card products and a full range of memory modules for personal computers and notebooks. Kristyn Nika M. Lazo


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