Postponement of key fundraising seen slowing DITO's telco rolloutIn a disclosure to the stock exchange on Tuesday, Dito CME Holdings Corp., the parent firm of the telco startup, said the National Telecommunications Commission informed the company about the results of the second technical audit, which showed Dito surpassed its targets. MANILA, Philippines — Dito CME Holdings Corp.’s decision to defer a major fundraising activity has potential to hamper the rollout plans of its nascent telco unit, a problem that could threaten its ability to meet state-imposed targets. Dito unilaterally postponed its planned P8-billion stock rights offer (SRO) that was meant to raise cash for the capital-intensive network expansion of its telco venture, Dito Telecommunity Corp. The company blamed “less than ideal market conditions” for the debacle, but analysts over the weekend said investors just “lack confidence” in Dito. “DITO should disclose the extent of the impact to its future plans, to guide regulators and investors dealing with the company,” he said.

Source: Philippine Star January 31, 2022 18:04 UTC