Cirtek US unit extends supply deal with telcos

Jul 14, 2021

Cirtek US unit extends supply deal with telcos

Published By VG CABUAG BusinessMirror

Quintel USA Inc., a unit of Laguna-based Cirtek Holdings Philippines Corp., on Monday said it has extended its master supply agreement with two major leading carriers in North America.

The extension of the agreement allows Quintel another 5 years of secured business with these two telcos, the firm said.

“Quintel is poised to grow its business in the near to medium term as evidenced by the relevance of its pioneering products that has been well received by our customers. Our products allow carriers to stay ahead of their game and maximize 5G services in the quickest and most cost economical manner. We are preparing our supply chain, planning, capacity expansion and capital expenditures to fully support the demand as we look to grow our market share to double digit figures in the next three to five years,” group vice chairman Jorge Aguilar said.

“Quintel’s 5G products are precisely designed with the customer’s network architecture in mind allowing synergies in terms of backwards compatibility to existing infrastructure while providing 5G capability at a fraction of the cost against competitor products.”

The global 5G base station market is anticipated to grow by a compounded annual growth rate of around 32 percent from 2020 to 2028 and is estimated to cross market valuation of $177 billion by 2028, according to a market study published in March.

Cirtek is targeting to raise some P1.37 billion from its stock rights offering (SRO) with bonus detachable warrants. The company has set a final offer price at P5.50 for both per entitlement right of its SRO and final exercise price for the bonus detachable warrants.

The company intends to list some 249.44 million in common shares for the rights shares and 249.44 million in detachable warrants with 249.44 million in underlying common shares.

“Net proceeds will be used to primarily finance the working capital of Quintel USA Inc., Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc., as well as to refinance the existing debt/payout short-term obligations of Cirtek Electronics Corp.”

  • Dec 02, 2021

    SEC allows Cirtek to sell ₧2.5B in preferred shares

    Published by Business Mirror

    Laguna-based Cirtek Holdings Philippines Corp. on Thursday said it secured the green light of the Securities and Exchange Commission for its primary offering of up to 50 million in perpetual preferred shares.

    The company is selling its preferred shares to be classified as class B-2 subseries C or D shares at P50 apiece. Cirtek expects to raise some P2.5 billion from the offering.

    The public offer period will run until December 3 and will be listed on the Philippine Stock Exchange on December 14.

    Cirtek has been allowed to offer up to 70 million shares, or proceeds ...

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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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  • Sep 16, 2021

    Cirtek unit bags deal

    Cirtek unit bags deal

    Cirtek Holdings said its unit Quintel USA Inc. has signed a master purchase agreement

    Read more