DITO selling P4.19b worth of shares to investors

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DITO CME Holdings Corp., the owner of DITO Telecommunity, plans to raise up to P4.19 billion by selling new shares to investors.

“The purpose of the follow-on offering is to raise funds the will be infused as additional capital into its operating subsidiary, DITO Telecommunity Corp. in order to support its commercial roll-out of its network expansion and for general corporate requirements and for regulatory compliance with the public offering requirements,” DITO CME said.

DITO is targeting 15 million to 16 million subscribers this year, up from the current subscriber base of 10.4 million.

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MlaStandard /  🏆 20. in PH

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