DITO CME Holdings Corp., owner of DITO Telecommunity, on Friday said that it was planning to raise up to P4.2 billion in fresh capital via a follow-on share offering.
The fundraising involves the sale of up to 1.95 billion shares at a maximum price of P2.15 apiece, representing up to 10 percent of DITO CME's outstanding capital stock'The purpose of the follow-on offering is to raise funds that will be infused as additional capital into its operating subsidiary, DITO Telecommunity Corp ...
DITO Telecommunity earlier said that it expected revenue to reach P20 billion this year, up from P11 billion in 2023.The company also anticipates achieving positive earnings before interest, taxes, depreciation, and amortization by 2025.DITO is targeting 15 to 16 million subscribers this year from a current subscriber base of 10.4 million.For home broadband, the company expects about 300,000 to 400,000 subscribers this year from the current 100,000.
Aiming To Raise P4.2B From Share Sale
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