Published by Business World Online
THE Securities and Exchange Commission (SEC) has given Cirtek Holdings Philippines Corp. the go signal to offer as much as P3.5 billion of preferred shares to the public.
“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 commission said in an e-mailed statement on Wednesday.
According to the latest timetable submitted to the SEC, Cirtek Holdings’ offer period is slated for Nov. 25 to Dec. 3.
Shares will be listed and traded on the main board of the Philippine Stock Exchange, with the listing of the preferred shares scheduled for Dec. 10.
Cirtek Holdings may net up to P3.44 billion from the preferred shares offer, should the oversubscription option be fully exercised.
Proceeds from the offer will be used to refinance the company’s existing debt, for partial repayment of maturing debt, for capital expenditures, and to fund the working capital of its subsidiaries.
Cirtek Holdings assigned PNB Capital and Investment Corp. as the sole issue manager, lead underwriter, and sole bookrunner for the offer. — Keren Concepcion G. Valmonte
Sep 16, 2021
Cirtek Holdings said its unit Quintel USA Inc. has signed a master purchase agreement
Read moreAug 17, 2021
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...
Read moreJul 14, 2021
Published By Maria Romero Daily Tribune
Quintel USA Inc., the United States-based unit of Philippine Stock Exchange-listed firm Cirtek Holdings Philippines Corp., has extended a master supply agreement with two telecommunication companies in North America.
In a disclosure, Cirtek said the agreement between Quintel USA and two unnamed carriers provides for a business extension of another five years.
“This comes at a time following a series of new product introductions released by Quintel when fifth-generation (5G) is at an inflection point,” Cirtek said.
It added, “Quintel’s 5G products are pre...
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