{"id":137537,"date":"2017-12-08T22:33:12","date_gmt":"2017-12-09T03:33:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=137537"},"modified":"2017-12-08T22:33:12","modified_gmt":"2017-12-09T03:33:12","slug":"cirtek-raises-usd67-m-from-preferred-shares","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/12\/08\/cirtek-raises-usd67-m-from-preferred-shares\/","title":{"rendered":"Cirtek raises USD67-M from preferred shares"},"content":{"rendered":"<figure id=\"attachment_137538\" aria-describedby=\"caption-attachment-137538\" style=\"width: 350px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/12\/cirtek-logo.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-137538\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/12\/cirtek-logo.png\" alt=\"The company told the local bourse the demand for dollar-denominated preferred shares was significant, particularly from retail investors. (Photo from http:\/\/www.cirtekholdings.com\/)\" width=\"350\" height=\"81\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/12\/cirtek-logo.png 350w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/12\/cirtek-logo-300x69.png 300w\" sizes=\"auto, (max-width: 350px) 100vw, 350px\" \/><\/a><figcaption id=\"caption-attachment-137538\" class=\"wp-caption-text\">The company told the local bourse the demand for dollar-denominated preferred shares was significant, particularly from retail investors.<a href=\"http:\/\/www.cirtekholdings.com\/\"> (Photo from http:\/\/www.cirtekholdings.com\/)<\/a><\/figcaption><\/figure>\n<p>MANILA\u2014 Semiconductor manufacturer Cirtek Holdings Philippines Corp. raised USD67 million from the issuance of preferred shares, proceeds of which will partly fund strategic acquisitions.<\/p>\n<p>&#8220;The successful issuance of dollar preferred shares places the company in a strong position to pursue strategic and growth initiatives leading to an expanded international presence,&#8221; said Cirtek chief financial officer Anthony Buyawe.<\/p>\n<p>The company told the local bourse the demand for dollar-denominated preferred shares was significant, particularly from retail investors.<\/p>\n<p>Buyawe noted indicative demand was USD110 million at the higher end of the pricing range of 6.25 percent to 6.75 percent per annum.<\/p>\n<p>\u201cWe eventually settled for a dividend rate of 6.125 percent p.a. which was still within Cirtek&#8217;s blended cost of debt and at the same time gives a very decent return to investors,&#8221; he said.<\/p>\n<p>Cirtek Vice Chairman and Chief Executive Officer Roberto Juanchito Dispo said \u201cthe strong reception from retail investors reflect the growing acceptance and demand for dollar-denominated products in the Philippine capital market.&#8221;<\/p>\n<p>\u201cWe held roadshows in Manila, Cebu and Davao during the offer period, and saw that Filipinos are in fact already diversifying their investments into dollars,\u201d he added.<\/p>\n<p>Proceeds from the preferred shares offering will be also used for debt retirement, capacity expansion and research and development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u2014 Semiconductor manufacturer Cirtek Holdings Philippines Corp. raised USD67 million from the issuance of preferred shares, proceeds of which will &hellip;<\/p>\n","protected":false},"author":33,"featured_media":137538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[37785,37786,37787],"class_list":["post-137537","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cirtek-raises-usd67-m-from-preferred-shares","tag-semiconductor-manufacturer-cirtek-holdings-philippines-corp","tag-usd67-million","mauthors-leslie-gatpolintan","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/137537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=137537"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/137537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/137538"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=137537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=137537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=137537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}