Saturday 18 November
Powered by Ajaxy
Oct 24, 2017 @ 13:57

Cirtek readies $200M preferred share offering as it looks for further growth


Laguna-based chip maker Cirtek Holdings Philippines Corp. has approved the issuance of up to $200 million non-voting preferred shares to further grow its business and pay down debt.

In a stock exchange filing, Cirtek said its board approved the offering of as much 200 million cumulative, non-participating, non-convertible preferred B shares at $1 each.

Cirtek officials earlier said the company had tapped BPI Capital Corp. And RCBC Capital to manage the offering.

The five-year preferred shares are estimated to have a dividend rate of 5.25 to 5.75 percent per annum.

Proceeds from the offering, which is targeted to start next month or early December, will be used to bankroll acquisitions and expand the operations of newly-acquired Quintel, a leading US-based antenna solutions provider

Tags: , , , , , , , , , , ,

Related Stories
Fancy hitting the town in the latest Dior dress with an outrageously expensive Louis Vuitton
Healthier lifestyles and higher incomes have helped increase life expectancy in the 35 OECD nations
Thousands of victims of Bernie Madoff's multi-billion-dollar fraud, who lost their savings and were ruined
US sportswear giant Nike used a loophole in Dutch fiscal law to reduce its tax


Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo -