DITO CME Holdings Corp. now has a tentative schedule for a follow-on offering that was originally set for last month.

"For the listing of these shares, we will do it by around the first week of December," DITO President and Chief Operating Officer Donald Lim said late on Tuesday. "With regard to the offering period, it will be done by the last week of November."

"As for the price of the shares, we will determine that also by November... what I can say is this follow-on offering will definitely push through."

DITO wants to conduct a follow-on offering of 1.95 billion primary common shares at a price range of P1.00 to P2.15 based on a preliminary offer sheet.

Proceeds are to be allocated for its telco business, DITO Telecommunity.

The firm later notified the bourse that it was postponing the offering as several investors had asked for additional time. The offer period was originally set for September 26 to October 2.

As this developed, DITO Telecommunity said that it had now breached the 13-million subscriber mark.

"[W]e just crossed 13 million last Sunday. By the end of 2024, we're trying to target 15 to 16 million subscribers," DITO Telecommunity CEO Eric Alberto said late Tuesday.

DITO shares were unchanged at P1.89 each on Wednesday.

Read The Rest at :