The listed firm reported on Thursday that CIRTEK HOLDINGS Philippines Corp. received its approval from the Philharmonic Börse (PSE) for the sale of its favored stock.
The business listed in its filing reported on January 20 that the PSE approved a listing of its preferred $20 million US-dollar B2-B shares to be provided through private investment to Camerton, Inc.
On Feb. 2, it will be applied to the PSE list of preference stock.
The disclosure reported that “the Company fulfilled all post-approval requirements to list the private placement shares subject to the transaction.”
“An initial dividend rate of preferred B2-B shares at 6 per cent per annum was approved on 2 December 2020 by Cirtek’s board of directors,” he said.
The Cirtek preferred shares denominated in the sum of US$20 million in early January were one of the deals listed by PSE CEO Ramon S. Monzon in the 2021 pipeline.
“We have several supply options for Cirtek Holdings Philippines Corp. and Cebu Air, including an offer of $20 million and an offer to AC Energy Philippines for DDS (denominated securities) of $250 million,” Mr. Monzón said in a statement in early January.
CIrtek Holdings has a holding firm, among others, in the manufacture of semiconductor packaging, and is owned by Cirtek Electronics Corp. and Cirtek Electronics International Corp.