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
Jan 13, 2021
PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity
Read moreJul 05, 2021
By Faye Almazan The Manila Times
Listed Cirtek Holdings Philippines Corp. on Wednesday said the Philippine Stock Exchange Inc. (PSE) has approved its stock rights offering (SRO) with bonus detachable warrants.
In a disclosure to the exchange, the company said the PSE approved its listing application last June 23.
Cirtek intends to list 249.44 million common shares and 249.44 million Bonus Detachable Warrants, with 249.44 million underlying common shares.
The firm said it has set the final offer price of its SRO at P5.50 and the final exercise price of its bonus detachable warrants also at P5.5...
Read moreAug 16, 2021
Published by Manila Standard
Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Monday it raised P1.37 billion from its stock rights offering. Cirtek said in a disclosure to the stock exchange it listed 249.442 million common shares sold by way of rights offering at P5.50 per share. Shareholders as of July 1 were entitled to purchase 1 share for every 1.68 common shares owned. The shares came with 249.442 million bonus detachable warrants that will be issued free of charge to the investors and as part of the subscription to the entitlement rights. Each bonus detachable warrant e...
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