SEC Approves DITO CME Holdings Corp. ’s Follow-On Offering

The Securities and Exchange Commission (SEC) has considered favorably the follow-on offering of DITO CME Holdings Corp. for up to P4.2 billion.

In its meeting on August 15, the Commission En Banc resolved to render effective DITO’s registration statement covering a total of 1,953,500,000 common shares priced at P1 to P2.15 per share, subject to the company’s compliance with certain remaining requirements.

At the maximum price, DITO expects to net up to P4.12 billion from the offer. The listed telco provider will use the proceeds to fund the commercial rollout of its network expansion and for general corporate purposes.

The offer will run from September 5 to 12, in time for listing of the shares on the Main Board of the Philippine Stock Exchange on September 20, according to the latest timeline submitted by the company.

The company tapped BDO Capital & Investment Corporation as the sole underwriter for the transaction.