Published by Daily Tribune
The Securities and Exchange Commission (SEC) has issued Cirtek Holdings Philippines Corporation (TECH) a permit to sell and order of registration of securities for the primary offering of up to 50 million Preferred Class B-2 Shares.
In a disclosure on Thursday, TECH said the cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares has a par value of P1.00 per share at an offer price of P50 per share to be issued as Preferred Class B-2 Subseries C or D Shares.
The preferred shares are targeted to be listed on the Philippine Stock Exchange on 14 December.
Time-bound debt papers Although the preferred shares are perpetual, they have a synthetic maturity of three and five years from the listing date.
If TECH does not redeem the Subseries C or Subseries D preferred shares on the third and fifth year, respectively, the company will have to pay a higher dividend rate.
The final structure of the Offer is to offer for sale or subscription of P1.5 billion in aggregate issue value, consisting of up to 30 million Preferred Class B-2 Shares, composed of Preferred Class B-2 Subseries C and/or D Shares.
“TECH expects to raise gross proceeds from the primary offering of Preferred B-2 Shares, to be issued as either Subseries “C” and/or “D”, from the offer price of P50 per preferred B-2 share will be approximately P1,456.6 million,” the company said.
Jan 17, 2021
MANILA, Philippines — Cirtek Electronics Corp will scale up its production and improve revenues
Read moreMar 14, 2022
Published by Malaya
Cirtek vaccination drive
Cirtek Holdings Philippines Corp. has extended its support to facilitate the drive to have majority of its employees vaccinated against COVID-19.
The company worked with Laguna Technopark’s vaccination facility by fielding its own set of medical volunteers, giving its employees easier access to a vaccination facility directly adjacent to the company’s facility.
This drove the workforce’s vaccination rate to 99.7 percent at present. The company’s medical team is moving forward to provide booster shots.
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Read moreJul 02, 2021
by VG Cabuag Business Mirror
Laguna-based Cirtek Holdings Philippines Corp. on Wednesday said it secured the approval of the Philippine Stock Exchange Inc. (PSE) for the company’s stock rights offering (SRO) with bonus detachable warrants, which could yield P1.37 billion.
The company has set a final offer price of P5.50 per entitlement right and a final exercise price of P5.50 for the bonus detachable warrants.
Cirtek said it intends to list some 249.44 million in common shares for the rights shares and 249.44 million in detachable warrants with 249.44 million in underlying common shares.
Inve...
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