DITO CME Holdings Inc. said Thursday it raised fresh funds to support the operations and expansion of its telecom unit.
The company said in a disclosure to the stock exchange subsidiary DITO Holdings Corp. issued 2.24 billion shares to Summit Global Ltd., an entity organized and existing under the laws of the Cayman Islands at P1 per share or a total of P2.4 billion.
The issuance of new shares at DITO Holdings amounts to about 18.5 percent of its issued and outstanding capital stock. After the transaction, DITO will own 72.9 percent of DITO Holdings. DITO CME sold 610 million shares to Xterra Ventures Ptd. Ltd. and 1.59 billion shares to Summit Telco Corp. Pte. Ltd. for P1 each.
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