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.

  • Mar 12, 2022

    Cirtek subsidiaries get ISO certifications

    Published by Manila Bulletin

    Cirtek Holdings Philippines Corporation reported that two of its subsidiaries, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technology Solutions Inc. (CATSI), have passed their ISO 14000 audits with zero non-conformance.

    “Considering the stringent requirements of an ISO 14000 certificate, the company considers this a victorious achievement,” Cirtek said in a statement.

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  • Oct 28, 2021

    Cirtek new shares offer gets SEC nod

    Published by Manila Times

    THE Securities and Exchange Commission (SEC) has cleared the P3.5-billion preferred shares offering of tech manufacturer, Cirtek Holdings Philippines Corp.

    The commission on Wednesday said it has approved Cirtek's registration statement in its meeting on October 26.

    The registration statement covers 50 million preferred B-2 Subseries C and D shares priced at P50 apiece, with an oversubscription option of up to 20 million shares.

    Cirtek looks to raise up to P3.44 billion from the offer, which will refinance the company's existing debt, partially pay its maturing debt a...

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  • Jul 02, 2021

    PSE approves Cirtek’s P1.37-b rights offering

    By Jenniffer B. Austria Manila Standard

    Cirtek Holdings Philippines Corp. obtained the approval of Philippine Stock Exchange Inc. on its planned P1.37-billion stock rights offering with bonus detachable warrants.

    Cirtek said in a disclosure to the stock exchange it set the final price of the rights offering at P5.50 and the final exercise price for the bonus detachable warrants at P5.50.

    The company plans to issue and list 249.44 million rights shares and another 249.44 million bonus detachable warrants with 249.44 million underlying common shares.

    Investors who hold common shares of Cirtek as...

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