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 28, 2021

    SEC clears Cirtek’s P3.5-B shares offer

    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 submi...

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  • 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...

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  • Sep 16, 2021

    Cirtek unit bags deal

    Cirtek unit bags deal

    Cirtek Holdings said its unit Quintel USA Inc. has signed a master purchase agreement

    Read more