Published By VG CABUAG BusinessMirror
Quintel USA Inc., a unit of Laguna-based Cirtek Holdings Philippines Corp., on Monday said it has extended its master supply agreement with two major leading carriers in North America.
The extension of the agreement allows Quintel another 5 years of secured business with these two telcos, the firm said.
“Quintel is poised to grow its business in the near to medium term as evidenced by the relevance of its pioneering products that has been well received by our customers. Our products allow carriers to stay ahead of their game and maximize 5G services in the quickest and most cost economical manner. We are preparing our supply chain, planning, capacity expansion and capital expenditures to fully support the demand as we look to grow our market share to double digit figures in the next three to five years,” group vice chairman Jorge Aguilar said.
“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.”
The global 5G base station market is anticipated to grow by a compounded annual growth rate of around 32 percent from 2020 to 2028 and is estimated to cross market valuation of $177 billion by 2028, according to a market study published in March.
Cirtek is targeting to raise some P1.37 billion from its stock rights offering (SRO) with bonus detachable warrants. The company has set a final offer price at P5.50 for both per entitlement right of its SRO and final exercise price for the bonus detachable warrants.
The company 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.
“Net proceeds will be used to primarily finance the working capital of Quintel USA Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc., as well as to refinance the existing debt/payout short-term obligations of Cirtek Electronics Corp.”
Oct 27, 2021
Published by Manila Standard
The Securities and Exchange Commission said Wednesday it approved the P3.5-billion preferred shares offering of semiconductor manufacturer Cirtek Holdings Philippines Corp. Cirtek was allowed to register and offer up to 50 million preferred shares at a price of P50 apiece, with an oversubscription option for another 20 million preferred shares. The company has yet to set the dividend rate for the preferred shares. The preferred shares will be listed and traded on the main board of the Philippine Stock Exchange. Cirtek will use the net proceeds from the offering wil...
Read moreAug 16, 2021
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...
Read moreMar 10, 2022
Published by Business Mirror
Laguna-based Cirtek Holdings Philippines Corp. on Thursday said its units were able to secure its respective ISO certifications on environmental and management standards, which will allow the company to attract more European and Japanese customers.
In its disclosure, the company said its units 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,” the company said. “Passin...
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