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
Sep 14, 2020
QUINTEL WINS NEW TELCO CONTRACT UNDER MASTER PURCHASE AGREEMENT
Quintel USA, Inc., a wholly owned subsidiary of Cirtek Holdings Philippines Corp., has fully concluded contract signing on a Master Purchase Agreement with a telecommunications operator ranking among the top five full-fledged wireless carriers in North America. Having spent close to half a billion dollars in acquiring new spectrum in auctions alone, the carrier is primed to launch full commercial services on fresh spectrum for 5G services 2021 beyond. As part of providing pioneering and constantly evolving innovative antenna solut...
Read moreOct 28, 2021
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 submi...
Read moreJan 13, 2021
PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity
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