EasyCall plans secondary rights sale to fund network rollout

2 Dec 2008

Filipino telco EasyCall Communications Philippines Inc (ECPI) has revealed plans to hold a secondary stock rights sale, immediately upon completion of its initial offering, as it looks to raise capital to fund its ambitious data communications network rollout. Formerly a major player in the domestic paging market before the mobile boom, ECPI aims to raise PHP11.5 million (USD235,000) to enable it to develop its wireless broadband capabilities allowing it to focus on the needs of the medical and education sectors, as well as the nation’s underserved provinces. The CAPEX requirement is enough to fund the project’s first year a spokesman for the company said. ECPI’s project still needs the green light from the National Telecommunications Commission (NTC) before it can start implementation.