DigiPlus Interactive Corp. (DigiPlus) is acquiring a stake in Hong Kong-listed International Entertainment Corp. (IEC), a group that operates an integrated and casino complex in Manila, for P12 billion.
The company told the local bourse Tuesday that it signed a convertible notes agreement. The transaction will issue the convertible notes in two tranches – split in HK $800 million per batch.
It can also convert the notes with an initial price of HK 1$ per share, allowing DigiPlus to secure 53.89 percent in IEC’s capital stock.
‘The acquisition will strengthen DigiPlus’ omnipresent entertainment ecosystem by adding a strategic offline platform that seamlessly connects with its digital network,’ the firm said.
DigiPlus operates BingoPlus, ArenaPlus, and GameZone.