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 13, 2021
Cirtek Holdings Philippines Corp. said Wednesday it received a credit rating of PRS A (corp.)
Read moreAug 16, 2021
Published by Manila Bulletin
Cirtek Holdings Philippines Corporation listed at the Philippine Stock Exchange its stock rights offering (SRO) shares worth P1.37 billion as well as the bonus detachable warrants that came with them.
The SRO consisted of 249.44 million common shares sold at an offer price of 5.50 per Entitlement Right at the ratio of 1 Entitlement Right for every 1.68 common shares to eligible shareholders of record as of 7 July 2021.
In addition to the rights shares, Cirtek issued 249.44 million Bonus Detachable Warrants free of charge. The Exercise Price for the Bonus Detachable...
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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