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.
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 moreAug 17, 2021
Published by Malaya
Cirtek Holdings Philippines Corp. said it has successfully raised P1.37 billion in funding through a stock rights offer (SRO) where existing shareholders subscribed to 249.44 million shares at P5.50 per share.
The SRO entitled a shareholder to buy one share from the pool of shares made available for every 1.68 Cirtek shares it owns. The company also included in the share sale one detachable warrant for each shares bought, which its holder can use to buy additional Cirtek shares at a price of P5.50, starting on the 12th month after the stock rights offer and until the 36th m...
Read moreJan 12, 2021
Cirtek Electronics Corporation on Monday said it will scale-up its production and improve revenues
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