Connect with us

Hi, what are you looking for?

News

DITO CME unit issues shares for equity requirements of telco unit













A subsidiary of DITO CME Holdings Corp. has issued new shares to Summit Global Ltd. as part of efforts to bankroll the equity requirements of telco firm Dito Telecommunity Corp.  

In a stock exchange disclosure on Thursday, DITO CME said its subsidiary DITO Holdings Corp. issued around 2.24 billion shares to Summit Global, an entity organized and existing under the laws of the Cayman Islands, at P1.00 per share.

“The issuance of new shares at DITO Holdings amounts to approximately 18.5% of its issued and outstanding capital stock,” DITO CME said.

Following the issuance, DITO CME will own 72.91% of DITO Holdings, down from the previous 89.46% stake.

“The proceeds from such issuance of shares were used to fund the additional equity requirements of its operating subsidiary, DITO Telecommunity, through the payment of subscription payables of DITO Holdings to DITO Telecommunity,” DITO CME said.

DITO Telecommunity is a Dennis A. Uy-led telecommunication firm.

On Thursday, shares of DITO at the local market dropped one centavo or 0.45% to close at 2.19 apiece. — Revin Mikhael D. Ochave

Neil Banzuelo




Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Senior business leaders and trade bodies have backed Keir Starmer’s comments that Britain should not part from the European Union on...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Stress was one of the biggest contributors to a rise in workplace absences over the past year, according to research that...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Creative UK has launched a new creative industries investment fund to support the UK’s ambitions to grow the sector by £50bn...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Rishi Sunak is “alarmed” by the escalating cost of HS2 amid claims that executives on the project have acted like “kids...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Offices in London have lost almost a fifth of their value over the past year, much more than blocks in most...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> The ongoing late payment threat facing UK businesses is now so bad, it has caught the attention of Westminster. According to...

You May Also Like

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.