SEC clears Cirtek’s P3.5-B shares offer

Oct 28, 2021

SEC clears Cirtek’s P3.5-B shares offer

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

  • Dec 02, 2021

    Cirtek secures SEC nod on P2.5-b share offering

    Published by Manila Standard

    Cirtek Holdings Philippines Corp. said Thursday it obtained the approval of the Securities and Exchange Commission to issue P2.5-billion worth of preferred shares. Cirtek said in a disclosure to the stock exchange it would offer 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable preferred shares at P50 apiece. Cirtek will issue the preferred shares in two series, including Class B-2 Subseries C shares with a dividend rate of 6.5864 percent per annum, and Class B-2 Subseries D shares with a dividend rate of 7.7506 percent ...

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  • Jul 14, 2021

    Cirtek unit extends telco presence in U.S.

    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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  • Jan 13, 2021

    Cirtek receives PRS A grade from PhilRatings

    Cirtek receives PRS A grade from PhilRatings

    CIRTEK Holdings Philippines Corp. has been assigned a PRS A mark by local debt watcher Philippine Rating Services Corp.

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