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 Warrant is P5.50.
Abacus Capital and Investment Corporation and PNB Capital acted as Joint Issue Managers and Lead Underwriters.
The said it 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. (CATSI).
Quintel USA designs, develops and delivers advanced high efficiency, high-performance antenna products and solutions that help mobile network operators increase efficiency, enhance quality-of-service, slash costs and accelerate returns.
CEC provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, final testing of semiconductor devices, and delivery and shipment to its customers’ end users.
CEC is primarily engaged in the business as an independent subcontractor for semiconductor assembly, test and packaging services. CEC has regular customers spread out in Europe, the US and Asia.
CATSI manufactures valued added, highly integrated microwave and millimeter wave technology products catering to the military, telecommunications, satellite communications, enterprise networks, automotive radar, semiconductor test boards, and industrial segment.
The Cirtek Group has built a strong brand within the industries and customers it serves for developing and delivering innovative high-quality products, production flexibility, supply chain stability, competitive costing and capability to work with customers on development of next generation products.
Mar 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 moreJul 14, 2021
Published By Maria Romero Daily Tribune
Quintel USA Inc., the United States-based unit of Philippine Stock Exchange-listed firm Cirtek Holdings Philippines Corp., has extended a master supply agreement with two telecommunication companies in North America.
In a disclosure, Cirtek said the agreement between Quintel USA and two unnamed carriers provides for a business extension of another five years.
“This comes at a time following a series of new product introductions released by Quintel when fifth-generation (5G) is at an inflection point,” Cirtek said.
It added, “Quintel’s 5G products are pre...
Read moreJul 19, 2021
Published by Bilyonaryo
Shareholders of Cirtek Holdings Philippines Corp. are probably scratching their heads over the stock’s underwhelming performance in the middle of its P1.4B stock rights offering.
Shares of TECH closed at P5.21 per share during Friday’s trading, down 25 percent from an intra-day high and below the P5.50 subscription price for the SRO.
Should shareholders subscribe when they can buy shares for cheaper at market?
Nicky Franco, the head of research of Abacus Securities, said taking up the TECH rights with its bonus warrants should be a “no brainer.”
Franco estimated that th...
Read more