Dito Bares Rights Offer

Dito CME Holdings today confirmed it has started the process of launching a Stock Rights Offer to raise up to Php 8 Billion at a price range of Php 6.11 to Php 7.00 per share.

Photo Insert: Dito SIM cards on display

Dito CME disclosed to the Philippine Stock Exchange that it has already filed an application for confirmation of exempt transaction with the Securities and Exchange Commission ("SEC") and a listing application with The Philippine Stock Exchange, Inc. ("PSE") for this endeavor and is looking towards securing approvals as soon as possible.

Dito CME plans to offer a little over 1.3 Billion common shares of Dito CME for the Stock Rights Offer.

The company notes, however, that the final terms, including the entitlement ratio, final offer price, total number of shares, ex-rights date, record date, and offer period have yet to be finalized as they are still subject to SEC, PSE, and board of directors' approval, the company said.

Dito added that it will provide the necessary updates on the terms and timeline of this transaction as soon as it receives approvals from the SEC and/or the PSE.

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