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.”
Aug 16, 2021
Publishehd by Rappler
WHAT YOU NEED TO KNOW
Buy, sell, or hold? Who are the top gainers? How about the biggest losers? Are the bulls winning over the bears? Which company is going public next?
Bookmark and refresh this page for the latest news and analysis on stock market movers, corporate and financial news, business deals, and the economy in the Philippines.
LATEST UPDATES
Peso-dollar exchange rate - August 19, 2021 RAPPLER.COM
Most active stocks and PSEi closing - August 19, 2021 RAPPLER.COM
Bangko Sentral to accept digital bank applicants only until August 31
The Bangko Sentral ng Pilipina...
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...
Read moreMar 13, 2022
Published by Philstar
MANILA, Philippines — Cirtek Holdings Philippines Corp. (CHPC) has raised its environmental standards and management systems.
In a statement, CHPC said that its subsidiaries, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technology Solutions Inc. (CATSI) recently passed their ISO 14000 audits with Zero (0) non-conformance.
“Considering the stringent requirements of an ISO 14000 certificate, the company considers this a victorious achievement,” CHPC said.
The internationally recognized quality standards mean a company has effectively established and maintains adequat...
Read more