Cirtek new shares offer gets SEC nod

Oct 28, 2021

Cirtek new shares offer gets SEC nod

Published by Manila Times

THE Securities and Exchange Commission (SEC) has cleared the P3.5-billion preferred shares offering of tech manufacturer, Cirtek Holdings Philippines Corp.

The commission on Wednesday said it has approved Cirtek's registration statement in its meeting on October 26.

The registration statement covers 50 million preferred B-2 Subseries C and D shares priced at P50 apiece, with an oversubscription option of up to 20 million shares.

Cirtek looks to raise up to P3.44 billion from the offer, which will refinance the company's existing debt, partially pay its maturing debt and fund its capital expenditures and equipment and the working capital of its subsidiaries.

According to the SEC, Cirtek's offer period will run from November 25 to December 3, while listing on the main board of the stock exchange is eyed on December 10.

PSE OKs Medilines first IPO PNB Capital and Investment Corp. was assigned as the sole issue manager, lead underwriter and sole bookrunner for the transaction.

Cirtek's net income rose by 60 percent to $8 million in the first six months of the year from $5 million in the same period last year.

Shares of Cirtek were up 6 centavos or 1.39 percent to close at P4.37 each on Wednesday.

  • Aug 17, 2021

    Cirtek lists 249M common shares, to issue warrants

    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 issue...

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  • Jan 12, 2021

    Cirtek to hike production

    Cirtek to hike production

    Cirtek Electronics Corp. will scale-up its production by 20 percent this year resulting to improved revenues.

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  • Aug 16, 2021

    Cirtek raises P1.37-B to finance debt, support units

    Published by Daily Tribune

    Cirtek Holdings Philippines Corporation (TECH) has raised P1.37 billion from the stock price offering of 249 million shares on Monday.

    The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance the working capital of its subsidiaries, Quintel USA, Cirtek Electronics Corp. (CEC), and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).

    “I understand that Cirtek is eyeing new markets that would expand the product portfolio of its subsidiaries. With these activities, Cirtek’s units are well-positioned to bene...

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