Malaya Business Insight
Philippine Rating Services Corp. (PhilRatings) assigned an issuer credit rating of PRS A (corp.), with a stable outlook, for Cirtek Holdings Philippines Corp. (CHPC).
This is in relation to the company’s three-year shelf registration for commercial papers (CPs) of up to P2 billion.
A company rated PRS A (corp.) has an above average capacity to meet its financial commitments relative to that of other Philippine corporates.
The rating and outlook were assigned given the following key considerations: manageable liquidity and capitalization levels; the Cirtek Group’s established track record in the industry, supported by a strong and experienced management team that has navigated the Group through economic cycles, crises, and industry challenges; CHPC’s strong customer base of well-established and global companies, diversified in terms of region and industries; improved profit margins despite lower revenues, attributable to the company’s cost management efforts; and highly competitive and cyclical industry that is susceptible to adverse changes in various economies and characterized by the presence of larger international players.
Dec 02, 2021
Published by Manila Bulletin
Cirtek Holdings Philippines Corporation (TECH) has set the size of its ongoing public offering of its preferred shares to a maximum of P2.5 billion.
The firm said in a disclosure to the Philippine Stock Exchange that it has started the primary offering of up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares at an offer price of P50.00 per share.
The final offer structure consists of P1.5 billion in aggregate issue value, consisting of up to 30 million Preferred Class B-2 Sha...
Read moreJan 17, 2021
MANILA, Philippines — Cirtek Electronics Corp will scale up its production and improve revenues
Read moreJul 02, 2021
by VG Cabuag Business Mirror
Laguna-based Cirtek Holdings Philippines Corp. on Wednesday said it secured the approval of the Philippine Stock Exchange Inc. (PSE) for the company’s stock rights offering (SRO) with bonus detachable warrants, which could yield P1.37 billion.
The company has set a final offer price of P5.50 per entitlement right and a final exercise price of P5.50 for the bonus detachable warrants.
Cirtek said it intends to list some 249.44 million in common shares for the rights shares and 249.44 million in detachable warrants with 249.44 million in underlying common shares.
Inve...
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