LAGUNA, PHILIPPINES -- EMS firm Cirtek Holdings is undergoing due diligence for the acquisition of a local electronics manufacturing firm, a company executive said.

Cirtek chief finance officer Anthony Buyawe said a deal could be finalized this year, the Philippine Daily Inquirer said. The company is raising money for the acquisition via a public offering of at least 100 million stock shares.

The offering which is set for the fourth quarter but if the deal closes before then the EMS firm will use bridge financing.

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