By Faye Almazan The Manila Times
Listed Cirtek Holdings Philippines Corp. on Wednesday said the Philippine Stock Exchange Inc. (PSE) has approved its stock rights offering (SRO) with bonus detachable warrants.
In a disclosure to the exchange, the company said the PSE approved its listing application last June 23.
Cirtek intends to list 249.44 million common shares and 249.44 million Bonus Detachable Warrants, with 249.44 million underlying common shares.
The firm said it has set the final offer price of its SRO at P5.50 and the final exercise price of its bonus detachable warrants also at P5.50.
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Cirtek looks to net P1.37 billion from the SRO, which will be used to finance the working capital of Quintel USA Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc.
The fund will also be used to refinance existing debt or payout the short-term obligations of Cirtek Electronics Corp.
Cirtek said investors holding common shares prior to the ex-rights date on July 2, will be entitled to subscribe to additional common shares at a discounted price of P5.50.
"For every one entitlement right subscribed to, one bonus detachable warrant shall be issued free of charge to the investor and shall be issued as part of the subscription to the entitlement rights," the company added.
Abacus Capital and Investment Corp. and PNB Capital and Investment Corp. will serve as the joint issue managers and lead underwriters for the SRO with bonus detachable warrants, with Philippine National Bank-Trust Banking Group as the receiving and escrow agent and BDO Unibank, Inc.-Trust Banking Group as the stock transfer agent and warrants registrar.
Shares of Cirtek inched up by 6 centavos or 0.98 percent to finish at P6.18 apiece on Wednesday.
Mar 13, 2022
Published by Manila Standard
Cirtek Holdings Philippines Corp. said two of its subsidiaries secured ISO certifications.
CHP said in a disclosure to the stock exchange Cirtek Electronics Corp. and Cirtek Advanced Technology Solutions Inc. passed their ISO 14000 audits with zero non-conformance.
“Considering the stringent requirements of an ISO 14000 certificate, the company considers this a victorious achievement,” CHP said
CHP said passing and securing an ISO 14000 standard provides assurance that a company has effectively established and maintains adequate environmental standards and manageme...
Read moreJul 14, 2021
Published By Malaya Business Insight
Cirtek Holdings Philippines Corp.’s telecom base antenna unit Quintel USA Inc. has secured five more years of contract to supply antennas to two leading carriers in North America.
Cirtek said this is following a series of new product introductions released by Quintel when 5G is at an inflection point.
“Quintel’s 5G products are precisely designed with the customer’s network architecture in mind allowing synergies in terms of backwards compatibility to existing infrastructure while providing 5G capability at a fraction of the cost against competitor products...
Read moreOct 28, 2021
Published by Manila Times
THE Securities and Exchange Commission (SEC) has cleared the P3.5-billion preferred shares offering of tech manufacturer, Cirtek Holdings Philippines Corp.
The commission on Wednesday said it has approved Cirtek's registration statement in its meeting on October 26.
The registration statement covers 50 million preferred B-2 Subseries C and D shares priced at P50 apiece, with an oversubscription option of up to 20 million shares.
Cirtek looks to raise up to P3.44 billion from the offer, which will refinance the company's existing debt, partially pay its maturing debt a...
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