Cirtek gets PSE nod for stock rights offer

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 company before the Ex-Rights Date on 2 July are allowed to subscribe to additional common shares or entitled rights of the company at a discounted price of P5.50.

Cirtek expects to raise gross proceeds of P1.3 billion from the SRO of 249 million entitlement rights.

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

    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...

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  • Jan 12, 2021

    Cirtek announces program to expand production by 20%

    Cirtek announces program to expand production by 20%

    Cirtek Holdings Philippines Corp. said Monday unit Cirtek Electronics Corp. will expand production capacity in the first quarter to boost revenues.

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  • Dec 03, 2021

    Cirtek secures permit to sell

    Published by The Manila Times

    LISTED Cirtek Holdings Philippines Corp. on Thursday said it received its permit to sell and order of registration of securities from the Securities and Exchange Commission for its preferred shares offering.

    In a disclosure to the exchange, the company said it is set to offer up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares with a par value of P1 each priced at P50 apiece.

    The shares will be issued as Preferred Class B-2 Subseries C or D Shares.

    Cirtek expects to raise ...

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