Holdings firm raises P1.4B thru SRO

Aug 17, 2021

Holdings firm raises P1.4B thru SRO

Published by Malaya

Cirtek Holdings Philippines Corp. said it has successfully raised P1.37 billion in funding through a stock rights offer (SRO) where existing shareholders subscribed to 249.44 million shares at P5.50 per share.

The SRO entitled a shareholder to buy one share from the pool of shares made available for every 1.68 Cirtek shares it owns. The company also included in the share sale one detachable warrant for each shares bought, which its holder can use to buy additional Cirtek shares at a price of P5.50, starting on the 12th month after the stock rights offer and until the 36th month or three years after.

Both shares under the SRO and the warrants were listed with the Philippine Stock Exchange Monday. The SRO ran July 12 to 22, 2021.

Cirtek said it plans to use the proceeds of the stock rights offer to refinance existing debt and short-term obligations of unit Cirtek Electronics Corp. and) finance the working capital of Quintel USA, Cirtek Electronics Corp. and Cirtek Advanced Technologies and Solutions Inc. — Ruelle Albert D. Castro

  • 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...

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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
  • Sep 16, 2020

    Cirtek takes piece of 5G rollout in US

    Cirtek takes piece of 5G rollout in US

    The Silicon Valley unit of electronics manufacturer Cirtek Holdings Philippines Corp. has bagged a new deal to supply antenna solutions

    Read more