Published by Manila Standard
Cirtek Holdings Philippines Corp. said Thursday it obtained the approval of the Securities and Exchange Commission to issue P2.5-billion worth of preferred shares. Cirtek said in a disclosure to the stock exchange it would offer 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable preferred shares at P50 apiece. Cirtek will issue the preferred shares in two series, including Class B-2 Subseries C shares with a dividend rate of 6.5864 percent per annum, and Class B-2 Subseries D shares with a dividend rate of 7.7506 percent per annum. The offering period will run until Dec. 3. Cirtek plans to list the preferred shares with the Philippine Stock Exchange on Dec. 14. The preferred shares are perpetual, but they have a synthetic maturity of three and five years from the listing date. Cirtek said the net proceeds would be used to finance the additional capital expenditure/equipment, partial payment of maturing Preferred Class B2-A shares and maturing loans and working capital of subsidiaries Quintel USA Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc.
“With the success of the offering, Cirtek will continue to maintain its roadmap to achieve key engagement in the 5G market and will continue in developing and delivering innovative high-quality products, production flexibility, supply chain stability, and capability to work with customers on development of next generation products,” the company said. The company tapped PNB Capital and Investment Corp. as the sole issue manager, lead underwriter and sole book runner for the offering. Cirtek is a fully-integrated global technology company engaged in high-technology product development and focused on 5G wireless communication. Share price of Cirtek rose 2.6 percent Thursday to P3.90.
Jul 14, 2021
Published by James A. Loyola Manila Bulletin
Quintel USA, Inc., the Telecom Base Station Antenna unit under of Cirtek Holdings Philippines Corporation has extended its Master Supply Agreement with two major leading carriers in North America.
In a disclosure to the Philippine Stock Exchange, Cirtek said “This extension allows Quintel another five years of secured business with these two telcos.”
It added that, “This comes at a time 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 custome...
Read moreDec 03, 2021
Published by Malaya
Cirtek Holdings Philippines Corp. expects to raise P2.5 billion from its ongoing preferred share sale.
It was earlier looking at a P3.5 billion fund raising.
The company said it is now selling 50 million of its preferred shares at an offer price of P50 apiece from an earlier 70 million, divided into an initial 30 million and another 20 million covering the oversubscription option.
The preferred shares that will have a series of TCB2C for the Preferred Class B-2 Subseries C and CB2D for the Preferred Class B-2 Subseries D will have a dividend rate of 6.5864 percent for TCB2C...
Read moreDec 02, 2021
Published by Manila Bulletin
Cirtek Holdings Philippines Corporation (TECH) has set the size of its ongoing public offering of its preferred shares to a maximum of P2.5 billion.
The firm said in a disclosure to the Philippine Stock Exchange that it has started the primary offering of up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares at an offer price of P50.00 per share.
The final offer structure consists of P1.5 billion in aggregate issue value, consisting of up to 30 million Preferred Class B-2 Sha...
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