Cirtek gets PSE nod for stock rights offer

Jul 05, 2021

Cirtek gets PSE nod for stock rights offer

By Maria Romero Tribune PH

Laguna-based Cirtek Holding Philippines Corporation has secured approval from the Philippine Stock Exchange (PSE) for its stock rights offer (SRO) with bonus detachable warrants.

In a regulatory filing on Wednesday, Cirtek said it has also set its final offer price at P5.50 per Entitlement Right and final Exercise Price at P5.50 for the bonus detachable warrants.

The company intends to list 249 million common shares or right shares and another 249 million bonus detachable warrants with 249 million underlying common shares.

Investors who hold common shares of the company before the Ex-Rights Date on 2 July are allowed to subscribe to additional common shares or entitled rights of the company at a discounted price of P5.50.

Cirtek expects to raise gross proceeds of P1.3 billion from the SRO of 249 million entitlement rights.

Net proceeds will be used to primarily finance the working capital of Quintel USA, Inc., Cirtek Electronics Corp., and Cirtek Advanced Technologies and Solutions, Inc., as well as to refinance the existing debt/payout short-term obligations of Cirtek Electronics Corp.

  • Jan 13, 2021

    Cirtek retains PRS A rating

    Cirtek retains PRS A rating

    PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity

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  • Jul 08, 2020

    Press Release  -  July 08, 2020

    Press Release - July 08, 2020

    Quintel USA, Inc., a subsidiary of Cirtek Holdings Philippines Corp (CHPC)

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  • Oct 27, 2021

    SEC approves Cirtek's P3.5-B preferred share offering

    Published By Manila Bulletin

    The Securities and Exchange Commission (SEC) has approved the planned P3.5 billion preferred shares offering by Cirtek Holdings Philippines Corporation.

    In its meeting on October 26, the Commission En Banc resolved to render effective the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.

    The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).

    The listed tech man...

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