Published by Business World Online
THE Securities and Exchange Commission (SEC) has given Cirtek Holdings Philippines Corp. the go signal to offer as much as P3.5 billion of preferred shares to the public.
“In its meeting on October 26, the Commission En Banc resolved to render effective 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 commission said in an e-mailed statement on Wednesday.
According to the latest timetable submitted to the SEC, Cirtek Holdings’ offer period is slated for Nov. 25 to Dec. 3.
Shares will be listed and traded on the main board of the Philippine Stock Exchange, with the listing of the preferred shares scheduled for Dec. 10.
Cirtek Holdings may net up to P3.44 billion from the preferred shares offer, should the oversubscription option be fully exercised.
Proceeds from the offer will be used to refinance the company’s existing debt, for partial repayment of maturing debt, for capital expenditures, and to fund the working capital of its subsidiaries.
Cirtek Holdings assigned PNB Capital and Investment Corp. as the sole issue manager, lead underwriter, and sole bookrunner for the offer. — Keren Concepcion G. Valmonte
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Published By Revin Mikhael D. Ochave Business World
A UNIT of technology company Cirtek Holdings Philippines Corp. has extended a master supply agreement with two telecommunication companies in North America.
Cirtek said in a regulatory filing on Monday that the agreement between its telecom base station antenna unit Quintel USA, Inc. and two unnamed carriers provides for a business extension of another five years.
“This comes at a time following a series of new product introductions released by Quintel when fifth generation (5G) is at an inflection point,” Cirtek said.
“Quintel’s 5G products ...
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