DITO TELECOMMUNITY Corp. said it is attracting more investors amid its continued business expansion, with revenues expected to rise by as much as 27% this year.
“With all these positive milestones, I think we’re getting a lot more visibility and interest from investment quarters,” DITO Telecommunity President and Chief Executive Officer Ernesto R. Alberto told reporters on the sidelines of an event on Wednesday.
He said the company’s growth momentum and expanding subscriber base, alongside a strong fixed wireless access (FWA) business, are driving investor confidence.
The telecommunications company expects to close the year with 16 million subscribers after surpassing 14 million in July, supported by ongoing network expansion and about 500,000 FWA users.
Earlier, DITO said it targets to reach one million FWA subscribers within the next 18 months. As of July, its FWA service — which uses wireless signals to deliver broadband connectivity — had 250,000 subscribers. The company aims to grow this to 300,000 by yearend.
Meanwhile, parent firm DITO CME Holdings Corp. said Summit Telco Corp. remains committed to investing in the company.
“Summit Telco is still very committed to their investment. We are just waiting for them to complete the infusion,” Mr. Alberto said, adding that the transaction is expected to be completed within the year.
The deal involves the sale of up to nine billion DITO CME shares. This year, DITO CME is planning to raise up to P26.53 billion to support the expansion of DITO Telecommunity’s operations, with an additional P28.83 billion to be raised over the next five years through private placements.
DITO Telecommunity also launched its new brand, BizBayan, which aims to offer digital products and services tailored for micro, small, and medium enterprises (MSMEs).
“We are unveiling a new brand conceived to meet the dynamic and evolving demands of Filipino MSMEs — delivering scalable, cost-efficient, and high-performance digital services and solutions,” Mr. Alberto said.
“These are not mere offerings; they are imperative instruments of transformation, designed to empower businesses to transcend limitations and to enable them to grow in this digital age,” he added. — Ashley Erika O. Jose
