Published by Business World
CIRTEK Holdings Philippines Corp. has listed 249.44 million common shares in the local bourse, and will issue bonus detachable warrants of the same number, the company said on Monday.
In a press release, Cirtek Holdings said that the common shares sold through a stock rights offer are at an offer price of P5.50 per entitlement right each. The company set the ratio at one entitlement right for every 1.68 common shares.
Meanwhile, the company said that it is also issuing bonus detachable warrants which are free-of-charge to the investor. “[The warrants] shall be issued as part of the subscription to the entitlement rights,” it added.
A bonus detachable warrant comes at an exercise price of P5.50.
“The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance working capital of its subsidiaries, namely Quintel USA, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions, Inc.,” Cirtek said.
Cirtek is a holdings company primarily engaged in the manufacture and sale of semiconductor packages, the manufacture of highly integrated technology products and the delivery of antenna solutions.
Previously, Cirtek announced that it was open to list its unit Quintel USA, Inc. in the US-based stock exchange Nasdaq through an initial public offering.
The firm earlier reported a second-quarter attributable net income of $2.31 million, up by around 70% versus $1.36 million in the same period last year.
Cirtek shares went down by 2.13% or 10 centavos to finish at P4.60 apiece on Monday. — Angelica Y. Yang
Aug 16, 2021
Published by Manila Bulletin
Cirtek Holdings Philippines Corporation listed at the Philippine Stock Exchange its stock rights offering (SRO) shares worth P1.37 billion as well as the bonus detachable warrants that came with them.
The SRO consisted of 249.44 million common shares sold at an offer price of 5.50 per Entitlement Right at the ratio of 1 Entitlement Right for every 1.68 common shares to eligible shareholders of record as of 7 July 2021.
In addition to the rights shares, Cirtek issued 249.44 million Bonus Detachable Warrants free of charge. The Exercise Price for the Bonus Detachable...
Read moreJul 02, 2021
The Philippine Stock Exchange has approved Cirtek Holdings Philippines Corporation’s planned stock rights offering with bonus detachable warrants that will raise a total of P2.74 billion.
Read moreJan 13, 2025
Published by Bilyonary
Bilyonaryo Jerry Liu’s Cirtek Advanced Technologies and Solutions Inc. (CATSI) has been named the No. 1 contract manufacturer for evaluation boards by U.S.-based semiconductor firm Analog Devices Inc. (ADI) for the fourth quarter of 2024.
The recognition marks CATSI’s rise to the top spot after ranking third in the first half of the year and second in the third quarter, ADI said.
Evaluation boards are a critical business line for ADI, enabling the promotion of its analog, mixed-signal, and digital signal processing (DSP) integrated circuits (ICs) to electronic design com...
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