Cirtek to list US-based subsidiary Quintel on Nasdaq

Cirtek Holding Philippines Corp. (CHPC) is eyeing to list newly acquired US-based antenna solutions provider Quintel on the Nasdaq.

"The listing, it's in the horizon. It's in the business plan," CHPC vice chairman and president Roberto Juanchito Dispo said in a briefing in Makati City on Wednesday.

"The important thing is how to be able to grow the top line of the company from where it is now. Next year, we will probably do $120 million from Quintel. Target is to grow to $500 million—perfect size for revenues in order to access Nasdaq listing," Dispo noted.

"Next year we’ll probably do $200 million for Quintel. Target is to grow into $500 million," he said.

In July, CHPC signed a $77-million deal to acquire Quintel.

Quintel is an innovator in spectrum and space-efficient base station antennas for wireless networks, which counts as customers two of the top five North American telecom carriers.

"We will not stop there. As I've said, we want to grow this company into a billion-dollar revenue company," Dispo said.

Quintel is looking at growing medium-term revenue to $500 million by expanding US market share to 30 percent from 10 percent. The plan is to lure new clients and introduce new products that include low-cost antennas starting in 2018. 

"The 20 percent increase in market share from where we are right now can easily be done in one or two years. That's how confident we are," Dispo noted.

Quintel's antenna technology has penetrated major North American telecommunications companies AT&T, Verizon, and Movil. — VDS, GMA News