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 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 m...

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  • 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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  • 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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