DITO CME sets final price of stock rights offer at P4.88 per share

ABS-CBN News

Posted at Dec 17 2021 05:32 PM

MANILA— DITO CME Holdings Corp on Friday set the final offer price of its stock rights offer at P4.88 per share.

DITO CME will offer a total of about 1.64 billion common shares, it said in a filing to the stock exchange.

The rights offer period will be from Dec. 27, 2021, to Jan. 18, 2022, the parent of third telco DITO Telecommunity said. 

The majority of the proceeds will be injected into DITO Telecommunity, it said. 

"The proceeds from the Offer will be contributed by the Company as additional capital into DITO Telecommunity to support a successful commercial-roll-out and for general corporate purposes," the disclosure said.

DITO Telecommunity, which is mounting its network to challenge the duopoly of Globe Telecom and PLDT, earlier said it is close to hitting its 5-million subscriber milestone. 

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