Clark, Pampanga—(PHStocks)—Parent company of Phoenix Semiconductor Philippines Corp. (PSE: PSPC), STS Semiconductor & Telecommunications Co. Ltd, filed a disclosure with the Korea Exchange (KRX) that reported the approval of its Board of Directors of the infusion of additional working capital by a new investor, SFA Inc., through convertible bonds; bonds with warranty; and the issuance of capital shares from STS unsubscribed capital stock. The financial commitment will serve to support the operational infrastructure of the company as it faces continued growth prospects.
The additional working capital has a total amount of approximately $116,324,916 with the following breakdown: convertible bond of approximately $25,898,400 that will be remitted to STS on 10 August 2015; bonds with warranty of approximately $26,160,000 to be remitted to STS on 10 August 2015; and issuance of capital shares of approximately $64,266,516 to be remitted to STS on 25 August 2015.
STS and its Pampanga-based subsidiary, PSPC, continue to see positive growth with the capital infusion following a recent commitment from Samsung Electronics Co. Ltd of continued business transactions with the company. PSPC continues to be one of the largest outsourced assembly and test (OSAT) facilities in the region and has long been the preferred supplier of global electronics giant.