“This marks the first time Globe will do a rights offer in the capital market in over two decades,” according to Chief Finance Officer Rizza Maniego-Eala following the approval by Globe’s Board of the stock rights offer on Monday, June 20.
Globe has seen data traffic in its network grow significantly, with the first quarter of 2022 reporting a 27 petcent increase against the same period last year. To support this fast growing demand, Globe has been continuously investing in its network, spending close to ₱250 billion in capital over the last four years and committing to spend another ₱89 billion in 2022.
These initiatives are a testament to the company’s conscious move to become a total digital solutions platform, and a well-timed response in the face of the accelerated shift of Filipinos towards digitalization. “This capital raise will also provide Globe added flexibility to properly compete as we aim to continue delivering quality services to our millions of customers and keep our leadership position in the country,” she maintained.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »