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.
Aug 16, 2021
Published by Manila Standard
Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Monday it raised P1.37 billion from its stock rights offering. Cirtek said in a disclosure to the stock exchange it listed 249.442 million common shares sold by way of rights offering at P5.50 per share. Shareholders as of July 1 were entitled to purchase 1 share for every 1.68 common shares owned. The shares came with 249.442 million bonus detachable warrants that will be issued free of charge to the investors and as part of the subscription to the entitlement rights. Each bonus detachable warrant e...
Read moreAug 16, 2021
Published by Daily Tribune
Cirtek Holdings Philippines Corporation (TECH) has raised P1.37 billion from the stock price offering of 249 million shares on Monday.
The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance the working capital of its subsidiaries, Quintel USA, Cirtek Electronics Corp. (CEC), and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).
“I understand that Cirtek is eyeing new markets that would expand the product portfolio of its subsidiaries. With these activities, Cirtek’s units are well-positioned to bene...
Read moreJul 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...
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