MANILA, Philippines - Integrated Micro-Electronics Inc. (IMI), the electronic manufacturing unit of the Ayala Group, secured the Securities and Exchange Commission’s green light to list P1.27 billion worth of shares on the Philippine Stock Exchange (PSE) by way of introduction.
Listing by way of introduction involves the listing and trading of a company’s shares at the stock market without going through an initial public offering (IPO).
The shares will be listed on the first board of the PSE.
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.
By 2020, IMI aims to become a $10-billion electronics solutions provider through 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.
Through the years, IMI has increased its operations at the Laguna Technopark facilities and has registered more projects and activities with PEZA, all related to production and manufacture of any and all types of electronic products.
Two companies – AgriNurture Inc. and Century Peak Metals Holdings Corp. have listed by way of introduction at the PSE so far this year. Just last week, local search engine Yehey!.com filed with securities regulators its application to list by way of introduction.