DITO Telecommunity intends to launch a fixed wireless product

As part of its ongoing efforts to become a competitive alternative telco in the country, DITO Telecommunity plans to launch a fixed wireless product.

Leo Venezuela, DITO CME Holdings Corp.’s investor relations officer, said the telco intends to launch a fixed wireless product in the first quarter.

Venezuela stated, “We are currently conducting a test broadcast to ensure the quality of the product that we will be launching sometime in the first quarter of 2022.”

DITO Telecommunity is owned by DITO CME, which owns 54 percent of DITO Telecommunity and operates three digital media, communications, entertainment, and information technology companies.

Unalytics provides managed analytics services; Acuity Global curates media properties across platforms and provides media planning and buying; and Luna Academy provides users with future-ready skills, credentials, and certificates.

“We have a long runway ahead of us, and we’re looking forward to growing these digital businesses,” DITO CME president Eric Alberto said.

DITO CME has received regulatory approval to extend its stock rights offer until January 25, allowing more qualified investors to purchase additional shares at a reduced price.

According to the company, the extension was granted in response to numerous requests from shareholders who were unable to subscribe to the offering or receive their SRO kits on time due to logistical issues caused by the COVID surge.

DITO CME is selling 1.64 billion common shares at a price of P4.88 per share. The offer price is 18.4 percent below the closing price on January 13.

This, according to the company, allows eligible shareholders to increase their investment in DITO CME as it focuses on growing DITO Telecommunity’s telecom network and other digital businesses.

“We’re raising P8 billion through the SRO, and the proceeds will be used to fund our telco services across the country in order to meet technical audit requirements, as well as to fulfill our own mission of being a compelling and competitive alternative telco serving the Filipino public,” Alberto said.

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