DITO CME Holdings Inc. said Tuesday it raised P2.2 billion from the sale of shares to fund the expansion of
The company said in a disclosure the stock exchange it sold 610 million shares to Xterra Ventures Ptd. Ltd. and 1.59 billion shares to Summit Telco Corp. Pte. Ltd. at P1 apiece. DITO CME identified the two buyers as unrelated third-party subscribers.
DITO CME president Eric Alberto said the objective was to “raise as much as investment to be able to fund critical project of ours.” “As you know, the telco vertical is a very capital-intensive industry, and if we are to be true to our ambition to be a major enabler of digital services in the country, our first order of the day is for us to be able to raise the adequate funding,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DITO Telecom rolls out mobile, broadband postpaid plans to reach more FilipinosDITO Telecommunity Corp. said Monday it rolled out new mobile and home broadband postpaid plans targeting the underserved market. “The
Read more »
Ayala sells stake in German auto parts makerMANILA, Philippines--Conglomerate Ayala Corp. said Tuesday wholly-owned unit AC Industrial Technology Holdings Inc. sold its entire stake in German automotive
Read more »
PH1 World eyes 9 new residential projects as prices continue to soarPH1 World Developers Inc., the real estate arm of Megawide Construction Corp., disclosed plans to build nine new projects in
Read more »
Davao Light sets P2.4-b capex for ‘24 expansionDAVAO CITY—Davao Light and Power Co. Inc. is looking at capital expenditure of P2.4 billion in 2024 as it undertakes
Read more »
Globe most consistent fixed broadband provider in 31 locationsBy Darwin G Amojelar Globe Telecom Inc. said it bagged the most consistent fixed broadband provider in 31 locations across
Read more »
Smart offers FREE livestream access to the FIBA Basketball World Cup 2023FIBA global partner Smart Communications, Inc. (Smart) will offer FREE access to every FIBA Basketball World Cup 2023 game on
Read more »