DITO CME Holdings, the listed parent firm of telco challenger DITO Telecommunity, is recalibrating its capital recovery plan by slashing its target to raise about P40 billion from private share sales.
DITO CME Holdings Inc. posted a net loss of P41 billion in 2024, more than double the ₱19.6 billion loss recorded in 2023, as gains in mobile revenues were overwhelmed by surging financing and foreign exchange costs.
Dito Telecommunity has been rated the no. 1 mobile network in the Philippines for the third straight time by global analytics firm Ookla, which ranks providers based on real user feedback after speed tests, underscoring its steady climb as a challenger to incumbents Smart and Globe.
Holding firm DITO CME Holdings has raised over P2 billion through a fully subscribed follow-on offer, boosting finances as DITO Telecommunity nears 14 million subscribers.
Davao-based tycoon Dennis A. Uy's DITO CME Holdings, the holding company of telco industry challenger DITO Telecommunity, doubled its losses to P25.8 billion during the first nine months of the year amid higher costs.
Davao-based tycoon Dennis A. Uy’s DITO CME Holdings is aiming to finish its follow-on share sale by the first week of December, company president Donald Lim said.