DITO CME Holdings Corp., the owner of DITO Telecommunity, plans to raise up to P4.19 billion by selling new shares to investors.
DITO CME’s follow-on share sale involves offering 1.95 billion shares at a maximum price of P2.15 apiece. This represents up to 10 percent of DITO CME’s outstanding capital stock.
“The purpose of the follow-on offering is to raise funds the will be infused as additional capital into its operating subsidiary, DITO Telecommunity Corp. in order to support its commercial roll-out of its network expansion and for general corporate requirements and for regulatory compliance with the public offering requirements,” DITO CME said.
DITO Telecommunity expects revenue to reach P20 billion this year, up from P11 billion in 2023. It also expects to achieve positive earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2025.
DITO is targeting 15 million to 16 million subscribers this year, up from the current subscriber base of 10.4 million.
It aims to have 300,000 to 400,000 home broadband subscribers this year, up from 100,000 subscribers at present.
The company said it also expects to pass the final mandatory performance audit by the National Telecommunications Commission by July this year.
The company earlier said it was on track to hitting a national population coverage of 84 percent by July from the current 82-percent coverage.
