Published by Business World
CIRTEK Holdings Philippines Corp. has listed 249.44 million common shares in the local bourse, and will issue bonus detachable warrants of the same number, the company said on Monday.
In a press release, Cirtek Holdings said that the common shares sold through a stock rights offer are at an offer price of P5.50 per entitlement right each. The company set the ratio at one entitlement right for every 1.68 common shares.
Meanwhile, the company said that it is also issuing bonus detachable warrants which are free-of-charge to the investor. “[The warrants] shall be issued as part of the subscription to the entitlement rights,” it added.
A bonus detachable warrant comes at an exercise price of P5.50.
“The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance working capital of its subsidiaries, namely Quintel USA, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions, Inc.,” Cirtek said.
Cirtek is a holdings company primarily engaged in the manufacture and sale of semiconductor packages, the manufacture of highly integrated technology products and the delivery of antenna solutions.
Previously, Cirtek announced that it was open to list its unit Quintel USA, Inc. in the US-based stock exchange Nasdaq through an initial public offering.
The firm earlier reported a second-quarter attributable net income of $2.31 million, up by around 70% versus $1.36 million in the same period last year.
Cirtek shares went down by 2.13% or 10 centavos to finish at P4.60 apiece on Monday. — Angelica Y. Yang
Jan 12, 2021
Laguna-based Cirtek Holdings Philippines Corp. on Monday said it will scale up the output of its semiconductor plantsRead more
Jul 14, 2021
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...Read more
Aug 16, 2021
Published by Business Mirror
Cirtek Holdings Philippines Corp. on Monday listed on the Philippine Stock Exchange (PSE) 249.44 million in common shares that carry a detachable warrant, which the company sold via a stock rights offering (SRO).
The said shares were sold at P5.50 per share, or a total of P1.37 billion.
Cirtek shares were last traded at P4.60 apiece.
In his welcome message, PSE president and CEO Ramon S. Monzon cited the competitive environment of the technology solutions space given the rapid advancement in this field and expressed optimism over Cirtek’s plans for its subsidiaries...Read more