Ayala electronics unit to push through with listing
MANILA, Philippines - Integrated Micro-Electronics Inc. (IMI), the electronics manufacturing unit of the Ayala Group, is pushing through with its plan to list by way of introduction on the stock exchange.
Listing by way of introduction only involves the listing and trading of a company’s shares at the stock market without going through an initial public offering (IPO).
In its registration statement filed with the Securities and Exchange Commission, IMI said it is listing P1.27 billion worth of common shares.
Established in 1980, IMI provides electronics manufacturing services to leading global original equipment manufacturers in the computing, communications, consumer, automotive, industrial and medical electronics markets.
IMI aims to become a $10-billion electronics solutions provider by 2020 by pursuing mergers and acquisitions, technology development and expansion of manufacturing locations.
The company also plans to enhance design and engineering and supply chain management capabilities to better serve target markets.
It has a global presence through wholly-owned units IMI International Singapore IMI USA and IMI Japan. — Zinnia B. Dela Peña
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