{"id":329694,"date":"2024-09-30T21:49:33","date_gmt":"2024-09-30T13:49:33","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329694"},"modified":"2024-09-30T21:49:34","modified_gmt":"2024-09-30T13:49:34","slug":"trade-the-news-dito-postpones-follow-on-offer","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dito-postpones-follow-on-offer\/","title":{"rendered":"Trade the News: DITO postpones P4.2-billion follow-on offer"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEGATIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Dito CME Holdings Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>DITO<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Unrated<\/td><\/tr>
1-Year Target Price<\/strong><\/td>Unrated<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Dito CME Holdings Corp. (DITO) of Davao-based businessman Dennis Uy is postponing its planned follow-on offering of up to P4.2 billion this month.<\/p>\n\n\n\n

Based on the notice submitted to the Philippine Stock Exchange, Dito CME said it is not pushing through with the planned sale of the offer shares later this month.<\/p>\n\n\n\n

\u201cPlease be informed that upon careful consideration, the company proposed to change the offer period for the follow-on offering, originally scheduled from Sept. 26 to Oct. 2, 2024, to a later date, subject to regulatory approvals,\u201d Dito CME said.<\/p>\n\n\n\n

\u201cThis is in light of the several requests received from potential investors asking for additional time to further evaluate this investment opportunity,\u201d it said.<\/p>\n\n\n\n

Dito CME\u2019s is set to offer 1.95 billion primary common shares at a price range of P1.00 to P2.15 apiece has been previously approved by the PSE and the Securities and Exchange Commission.<\/p>\n\n\n\n

Assuming an offer price of P1.00 per share, the total gross proceeds to be raised from the sale is estimated to be at P1.95 billion and approximately P4.2 billion at an offer price of P2.15 per share.<\/p>\n\n\n\n

The proceeds will be used for capital infusion into Dito Telecommunity Corp. to support its commercial rollout and network expansion as well as for general corporate requirements of Dito CME.<\/p>\n\n\n\n

Dito CME is a publicly listed holding company handling the Udenna Group\u2019s investments in the space of media, communications, entertainment and ICT.<\/p>\n\n\n\n

It has diverse assets held through operating companies involved in telecommunications, digital platforms and applications, media and content, analytics and digital infrastructures.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329694","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329694"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329694\/revisions"}],"predecessor-version":[{"id":329696,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329694\/revisions\/329696"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}