Cirtek’s subsidiary bags contract with US wireless carrier

Sep 16, 2020

Cirtek’s subsidiary bags contract with US wireless carrier

manilastandard.net

by Jenniffer B. Austria

Cirtek Holdings Philippines Inc. said US-based subsidiary Quintel bagged a telecommunications contract with one of the top five wireless carriers in North America.

Cirtek said in disclosure to the stock exchange Wednesday Quintel signed a master purchase agreement with a telecommunications operator that is scheduled to launch full commercial services on fresh spectrum for 5G services.

It did not provide the expected sales from the new contract, but said it would be positive for 2020 performance. The US telco operator is projecting annual spend of close to $1 billion this year, up by 27 percent from its capital expenditures in 2019.

Cirtek said the US wireless carriers were projected to increase spending by 11 percent to $35 billion in 2021.

Cirtek said that as part of providing pioneering and constantly evolving innovative antenna solutions to the market, Quintel would launch a new platform of small cell antenna products to complement its growing multi-port base station antenna portfolio.

The new product is designed to next generation network which is to be built around existing frequencies and overlaying newly-assigned 5G spectrum under a compact, feature-rich form factor with 4G and 3G backwards compatibility.

“Quintel is pleased to take part in building and transforming the information technology and connectivity revolution ahead as networks transition to 5G,” Cirtek said.

The company’s flagship 14-Port Small Cell Canister solution is specifically optimized for exploiting radios with 4T4R configurations at low-band frequencies to maximize radio channel spectral capacity in dispersive radio channels.

Quintel president Michael Liu said the 14-Port Canister covers all low-band spectrum and mid-band spectrum in North America.

  • Aug 16, 2021

    Cirtek lists SRO shares

    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 more
  • Jul 02, 2021

    PSE approves Cirtek’s P1.37-b rights offering

    By Jenniffer B. Austria Manila Standard

    Cirtek Holdings Philippines Corp. obtained the approval of Philippine Stock Exchange Inc. on its planned P1.37-billion stock rights offering with bonus detachable warrants.

    Cirtek said in a disclosure to the stock exchange it set the final price of the rights offering at P5.50 and the final exercise price for the bonus detachable warrants at P5.50.

    The company plans to issue and list 249.44 million rights shares and another 249.44 million bonus detachable warrants with 249.44 million underlying common shares.

    Investors who hold common shares of Cirtek as...

    Read more
  • Oct 27, 2021

    Cirtek Holdings receives SEC’s nod to sell P3.5-b preferred shares

    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 more