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

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 benefit from the upbeat prospects in the semiconductor and the antenna spaces,” PSE President and CEO Ramon S. Monzon said.

Cirtek’s SRO provided shareholders with bonus detachable warrants. The said warrants were also listed at the PSE under the stock symbol TECHW.

Abacus Capital and Investment Corporation and PNB Capital acted as Joint Issue Managers and Lead Underwriters.

Founded in 2007, TECH is a leading cellular antenna equipment provider is the first to market the multi-frequency band, multi-port antenna technology and caters to the top two mobile network operators in the USA.

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    Published By Malaya Business Insight

    Cirtek Holdings Philippines Corp.’s telecom base antenna unit Quintel USA Inc. has secured five more years of contract to supply antennas to two leading carriers in North America.

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    Cirtek preferred shares offer secures SEC nod

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    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.

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  • 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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