by Jenniffer B. Austria
Cirtek Holdings Philippines Inc. said US-based subsidiary Quintel bagged a telecommunications contract with one of the top five wireless carriers in North America.
Cirtek said in disclosure to the stock exchange Wednesday Quintel signed a master purchase agreement with a telecommunications operator that is scheduled to launch full commercial services on fresh spectrum for 5G services.
It did not provide the expected sales from the new contract, but said it would be positive for 2020 performance. The US telco operator is projecting annual spend of close to $1 billion this year, up by 27 percent from its capital expenditures in 2019.
Cirtek said the US wireless carriers were projected to increase spending by 11 percent to $35 billion in 2021.
Cirtek said that as part of providing pioneering and constantly evolving innovative antenna solutions to the market, Quintel would launch a new platform of small cell antenna products to complement its growing multi-port base station antenna portfolio.
The new product is designed to next generation network which is to be built around existing frequencies and overlaying newly-assigned 5G spectrum under a compact, feature-rich form factor with 4G and 3G backwards compatibility.
“Quintel is pleased to take part in building and transforming the information technology and connectivity revolution ahead as networks transition to 5G,” Cirtek said.
The company’s flagship 14-Port Small Cell Canister solution is specifically optimized for exploiting radios with 4T4R configurations at low-band frequencies to maximize radio channel spectral capacity in dispersive radio channels.
Quintel president Michael Liu said the 14-Port Canister covers all low-band spectrum and mid-band spectrum in North America.
Jul 19, 2021
Published by Bilyonaryo
Shareholders of Cirtek Holdings Philippines Corp. are probably scratching their heads over the stock’s underwhelming performance in the middle of its P1.4B stock rights offering.
Shares of TECH closed at P5.21 per share during Friday’s trading, down 25 percent from an intra-day high and below the P5.50 subscription price for the SRO.
Should shareholders subscribe when they can buy shares for cheaper at market?
Nicky Franco, the head of research of Abacus Securities, said taking up the TECH rights with its bonus warrants should be a “no brainer.”
Franco estimated that th...Read more
Aug 16, 2021
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 bene...Read more
Oct 27, 2021
Published By Manila Bulletin
The Securities and Exchange Commission (SEC) has approved the planned P3.5 billion preferred shares offering by Cirtek Holdings Philippines Corporation.
In its meeting on October 26, the Commission En Banc resolved to render effective the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.
The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).
The listed tech man...Read more