Published by Daily Tribune
The Securities and Exchange Commission (SEC) has issued Cirtek Holdings Philippines Corporation (TECH) a permit to sell and order of registration of securities for the primary offering of up to 50 million Preferred Class B-2 Shares.
In a disclosure on Thursday, TECH said the cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares has a par value of P1.00 per share at an offer price of P50 per share to be issued as Preferred Class B-2 Subseries C or D Shares.
The preferred shares are targeted to be listed on the Philippine Stock Exchange on 14 December.
Time-bound debt papers Although the preferred shares are perpetual, they have a synthetic maturity of three and five years from the listing date.
If TECH does not redeem the Subseries C or Subseries D preferred shares on the third and fifth year, respectively, the company will have to pay a higher dividend rate.
The final structure of the Offer is to offer for sale or subscription of P1.5 billion in aggregate issue value, consisting of up to 30 million Preferred Class B-2 Shares, composed of Preferred Class B-2 Subseries C and/or D Shares.
“TECH expects to raise gross proceeds from the primary offering of Preferred B-2 Shares, to be issued as either Subseries “C” and/or “D”, from the offer price of P50 per preferred B-2 share will be approximately P1,456.6 million,” the company said.
Jan 12, 2021
Cirtek Electronics Corp. will scale-up its production by 20 percent this year resulting to improved revenues.
Read moreJul 02, 2021
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...
Read moreJul 05, 2021
CIRTEK Holdings Philippines Corp. received the approval of The Philippine Stock Exchange, Inc. (PSE) for its stock rights offering with bonus detachable warrants.
The company said in regulatory filing on Wednesday that shareholders eligible to participate in the stock rights offering should pass the requisite documents and participate during the offer period scheduled on July 12 to July 22.
Listing for both the rights shares and the bonus detachable warrants are tentatively scheduled for Aug. 16, while the ex-rights date and record date will be on July 2 and July 7, respectively...
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