CTS Global [CTS 0.43, down 8.5%; 13% avgVol] [link] updated its report on the use of its IPO proceeds to say that it had redeemed P449 million, “which was temporarily placed into government securities” back in the middle of 2022. CTS had P659 million of its IPO proceeds invested in government securities as of June 30, 2025.
MB bottom-line: Aside from murdering the meaning of the word “temporary” (they held those government securities for three years!), this disclosure shows that CTS is finally attempting to live up to the hype it generated ahead of its 2022 IPO. While I’m a vocal critic of this company’s “black box” approach to investing and the over-involvement of its owners in the daily trading of the CTS stock, I’m a champion of the retail investor first and foremost, and I don’t want to see things get any worse for the investors who bought the CTS story back in 2022 and are now down nearly 60% on their investment. If CTS has finally cracked the code on this whole investing thing and is willing to give it a try, then I hope (for the sake of those retail investors) that they’re going to be successful. Their shareholders have probably grown gills; they’ve been underwater for so long.
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