Cirtek secures permit to sell

Dec 03, 2021

Cirtek secures permit to sell

Published by The Manila Times

LISTED Cirtek Holdings Philippines Corp. on Thursday said it received its permit to sell and order of registration of securities from the Securities and Exchange Commission for its preferred shares offering.

In a disclosure to the exchange, the company said it is set to offer up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares with a par value of P1 each priced at P50 apiece.

The shares will be issued as Preferred Class B-2 Subseries C or D Shares.

Cirtek expects to raise up to P2.44 billion from the offer, should the oversubscription option be fully exercised.

Proceeds will be used to fund Cirtek's additional capital expenditure and equipment, partially repay maturing Preferred Class B2-A shares and maturing loans and for the working capital of its subsidiaries, Quintel USA, Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions, Inc.

The offer period will run until December 3, while listing on the stock exchange is scheduled on December 14.

PNB Capital serves as the sole issue manager, lead underwriter and sole bookrunner of the transaction.

Shares of Cirtek climbed 10 centavos or 2.63 percent to close at P3.90 apiece on Thursday.

  • Jan 12, 2021

    Cirtek announces program to expand production by 20%

    Cirtek announces program to expand production by 20%

    Cirtek Holdings Philippines Corp. said Monday unit Cirtek Electronics Corp. will expand production capacity in the first quarter to boost revenues.

    Read more
  • Jul 08, 2020

    Press Release  -  July 08, 2020

    Press Release - July 08, 2020

    Quintel USA, Inc., a subsidiary of Cirtek Holdings Philippines Corp (CHPC)

    Read more
  • Aug 16, 2021

    Cirtek lists common shares sold via SRO

    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 more