DITO CME Holdings Corp set the final offer price for its stock rights offer at P4.88 per share on Friday.
DITO CME will issue approximately 1.64 billion common shares, according to a stock exchange filing.
The rights offer period will run from December 27, 2021 to January 18, 2022, according to the parent company of third telco DITO Telecommunity.
According to the company, the majority of the proceeds will be invested in DITO Telecommunity.
The disclosure stated that “the funds from the Offer will be committed by the Company as additional capital into DITO Telecommunity to support a successful commercial roll-out and for general corporate objectives.”
DITO Telecommunity, which is building its network to challenge the duopoly of Globe Telecom and PLDT, previously stated that it is near to reaching the 5-million subscriber mark.