CIRTEK HOLDINGS Philippines Corp. has secured approval from the Philippine Stock Exchange (PSE) for the listing of its preferred shares, the listed company said on Thursday.
In a disclosure, the listed company said the PSE on Jan. 20 permitted the listing of its $20 million US-dollar denominated preferred B2-B shares issued to Camerton, Inc. by way of private placement.
The preferred shares will be listed with the PSE on Feb. 2, it added.
“The company has complied with all post-approval requirements for the listing of the shares subject of the private placement transaction,” the disclosure said.
“On December 2, 2020, the Board of Directors of Cirtek approved the initial dividend rate of the preferred B2-B shares at 6% per annum,” it added.
In early January, the $20 million US dollar denominated preferred shares of Cirtek was one of the offerings mentioned by PSE President and Chief Executive Officer Ramon S. Monzon that were in the pipeline for 2021.
“We have a number of follow-on and stock rights offerings in the pipeline, which include $20 million and $250 million dollar denominated securities (DDS) offerings of Cirtek Holdings Philippines Corp. and Cebu Air, and the P5-billion stock rights offering (SRO) by AC Energy Philippines,” Mr. Monzon said in a statement in early January.
CIrtek Holdings is the holding company of Cirtek Electronics Corp. and Cirtek Electronics International Corp., and is engaged in the business of manufacturing semiconductor packages, among others.
On Thursday, Cirtek shares at the stock exchange were flat at P7 per piece. — Revin Mikhael D. Ochave
