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.
Aug 16, 2021
Published by Daily Tribune
Cirtek Holdings Philippines Corporation (TECH) has raised P1.37 billion from the stock price offering of 249 million shares on Monday.
The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance the working capital of its subsidiaries, Quintel USA, Cirtek Electronics Corp. (CEC), and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).
“I understand that Cirtek is eyeing new markets that would expand the product portfolio of its subsidiaries. With these activities, Cirtek’s units are well-positioned to bene...
Read moreMar 11, 2022
Published by Malaya
Cirtek Holdings Philippines Corp.’s subsidiaries Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technology Solutions Inc. (CATSI), have recently passed their ISO 14000 audits with zero non-conformance.
The certification provides assurance a company effectively established and maintains adequate environmental standards as well as management systems.
Organizations holding an ISO 140001 certificate adhere to the international environmental laws and regulations, run their operations with the aim of preventing pollution, and continuously strive to improve its environmenta...
Read moreSep 16, 2021
Cirtek Holdings said its unit Quintel USA Inc. has signed a master purchase agreement
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