Tech firm planning IPO

Cal-Comp Technology (Philippines), Inc., a leading consumer technology firm involved in the manufacture of multiple product lines, is planning to raise R6.77 billion from an initial public offering (IPO).

In its application filed with the Securities and Exchange Commission, Cal-Comp Tech said it will sell up to 378.07 million primary common shares with an over-allotment option of up to 19.9 million common shares.

To be priced up to R17 per share, the planned IPO shares comprise about 26.77 percent of the company’s total issued shares. Cal-Comp Tech targets to list before the end of the year.

IPO proceeds will be used for expansion as Cal-Comp Tech builds new factories in the Philippines to ramp up production and introduce new products to the domestic market.

Cal-Comp Tech is a member of global technology conglomerate New Kinpo Group (NKG), the largest Taiwanese investor in the Philippines.

NKG is a $6.30-billion firm engaged in global electronic manufacturing services and original design manufacturing, producing multiple product lines including external hard disk drives, TVs, all-in-one PCs, laser printers, smart home appliances, power supplies, 3D printers, innovative smart beauty mirrors, AI humanoid robots, and integrated circuits for cloud computing, among other products.

NKG’s other businesses in the Philippines are Cal-Comp Precision (Philippines), Inc. and AcBel Polytech (Philippines), Inc., which produce injection molded plastic precision parts and power supplies products for global clients.

Cal-Comp Tech currently employs over 6,000 employees in its manufacturing facilities located at the Lima Technology Center in Lipa City and at the First Philippine Industrial Park in Sto. Tomas, Batangas. (JAL)