DITO Telecommunity Corp. is aiming to reach 12 million subscribers this year

According to the company’s chief administrative officer, Adel A. Tamano, DITO Telecommunity Corp. aims to attain 12 million customers this year, despite the fact that the new telecom player quickly reached five million users in just nine months last year.

Photo by Philippine Star

“We gained five million customers in less than a year, roughly nine months.” We’re aiming for a lot more [this] year, and I believe that’s still a modest target. Mr. Tamano told CNN Philippines’ New Day on Tuesday, “We’re only looking for roughly 12 million members.”

“We are also going to be launching products that we hope will change the market,” he continued.

In a recent stock exchange statement, listed DITO CME Holdings Corp. stated that its telco unit plans to offer a fixed wireless product this year.

“We are currently undergoing a test broadcast to ensure the quality of the product that we will be launching sometime in the first quarter of 2022,” said DITO CME Investor Relations Officer Leo D. Venezuela.

DITO CME, which controls 54% of DITO Telecommunity, plans to raise P8 billion through a stock rights offering.

“Proceeds will be used to fund our telco services all over the country in fulfillment of the technical audit requirements, and to fulfill our own mission to be a compelling and a competitive alternative telco in service of the Filipino public,” DITO CME President Eric R. Alberto stated.

Previously, the company gained regulatory authority to prolong its stock rights offer through January 25, allowing more qualified investors to buy additional shares at a “attractive discount.”

“The offer price is an 18.4% discount from the closing price as of Jan. 13, allowing eligible shareholders the chance to grow their investment in DITO CME as it sets its eyes on growing the telecom network of DITO Telecommunity and its other digital businesses,”  the listed firm said.

Mr. Tamano stated at a virtual briefing in December that DITO Telecommunity had produced P2 billion in income as of December 18.

Udenna Corp.’s interests in media, communications, entertainment, and information technology are managed by DITO CME.

It has three digital businesses: Unalytics, which provides managed analytics services, Acuity Global, which curates media properties across platforms and provides media planning and buying, and Luna Academy, an online education platform that provides users with future-ready skills, credentials, and certificates.

On Tuesday, DITO CME shares fell 3.90 percent to P5.18 per share.

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