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.

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  • Jul 05, 2021

    Cirtek to push stock rights offer

    By Faye Almazan The Manila Times

    Listed Cirtek Holdings Philippines Corp. on Wednesday said the Philippine Stock Exchange Inc. (PSE) has approved its stock rights offering (SRO) with bonus detachable warrants.

    In a disclosure to the exchange, the company said the PSE approved its listing application last June 23.

    Cirtek intends to list 249.44 million common shares and 249.44 million Bonus Detachable Warrants, with 249.44 million underlying common shares.

    The firm said it has set the final offer price of its SRO at P5.50 and the final exercise price of its bonus detachable warrants also at P5.5...

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  • Jul 02, 2021

    Cirtek stock rights offering gets green light from PSE

    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...

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