Telco DITO ends 2021 with more than P2 billion in revenue – Tamano

By Arjay L. Balinbin, Senior reporter

DITO Telecommunity Corp. announced on Monday that it had generated revenue of 2 billion pesos as of Dec. 18 and expects to reach 2.3 billion pesos by the end of the year.

“We already have it on December 18; we have already reached our turnover of P2 billion, ”said Adel A. Tamano, administrative director of the DITO telecommunity, during a virtual briefing.

“For next year, our ambitions are much bigger,” he noted. “I am not allowed to say this because we are still working on our budgets and our plans for the next year.”

DITO Telecommunity has already built more than 4,000 cell phone towers, the company said, up from 1,300 towers reported in February this year. The phone company, which began commercial operations in March of this year, said in July it aimed to complete 4,500 cell phone towers by December as part of its nationwide expansion.

“In addition to that, we have taken an important step in the realization of the 22,000 kilometers of fiber optic cable,” said Rodolfo D. Santiago, director of technology of the DITO telecommunity, in the same briefing.

DITO Telecommunity now has more than five million subscribers in more than 500 regions, according to Tamano.

The company reached 52.75% of the national population in the results of the second technical audit recently published by the National Telecommunications Commission (NTC). Its average broadband speeds were 89.13 megabits per second (Mbps) for the fourth generation (4G) network and 853.96 Mbps for 5G.

DITO Telecommunity is committed to covering 51.01% of the national population and providing a minimum average broadband speed of 55 Mbps in its second year of operation.

In case of failure, the government must recall the certificate of public convenience and necessity and the frequencies assigned to it and retain its performance bond of 25 billion pesos.

During its first technical audit earlier this year, NTC declared DITO Telecommunity compliant with its requirement to cover 37.03% of the country’s population and provide a minimum average broadband speed of 27 Mbps during its first year of service. RG Manabat & Co. carried out the technical audit.

The listed parent company of the third largest telecommunications player, DITO CME Holdings Corp., is preparing to make an $ 8 billion share rights offer. The rights offering period will begin at 9:00 a.m. on December 27 and end at 12:00 p.m. on January 18. The price per share was set at P4.88.

“The proceeds of the offering will be contributed by the Company as additional capital to DITO Telecommunity to support a successful commercial deployment and for general corporate purposes,” DITO CME said in a stock exchange disclosure Friday week. last.

DITO CME shares closed 4.78% lower at 5.18P each on Monday.

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