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

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 of July 2, 2021 will be entitled to subscribe to entitlement shares at discounted price of P5.50 each. For every one entitlement right subscribed to, one bonus detachable warrant will be issued free of charge to the investor and will be issued as part of the subscription to the entitlement rights.

Each bonus detachable warrant entitles the investor the right to subscribe to one underlying common share of Cirtek beginning on the 12th month until the 36th month from issue date at an exercise price of P5.50 apiece.

  • Oct 27, 2021

    Cirtek aims to raise ₧3.5B from preferred shares offer

    Published by Business Mirror

    The Securities and Exchange Commission (SEC) has approved Cirtek Holdings Philippines Corp.’s public offering of up to P3.5 billion worth of preferred shares.

    In its en banc meeting, the agency approved the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.

    The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).

    The Laguna-based manufacturer expects to net P3.44 ...

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  • Jul 14, 2021

    Cirtek US unit extends supply deal with telcos

    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...

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  • Jul 05, 2021

    Cirtek gets PSE nod for stock rights offer

    By Maria Romero Tribune PH

    Laguna-based Cirtek Holding Philippines Corporation has secured approval from the Philippine Stock Exchange (PSE) for its stock rights offer (SRO) with bonus detachable warrants.

    In a regulatory filing on Wednesday, Cirtek said it has also set its final offer price at P5.50 per Entitlement Right and final Exercise Price at P5.50 for the bonus detachable warrants.

    The company intends to list 249 million common shares or right shares and another 249 million bonus detachable warrants with 249 million underlying common shares.

    Investors who hold common shares of the comp...

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