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PhilWeb to raise P6bn “war chest” to fund expansion plans

2nd June 2016 8:14 am GMT

Philippines-based gaming technology provider PhilWeb Corporation is looking to raise P6bn (€115.1m) through a private placement of its shares, which the company will use to undergo an “aggressive expansion program.”

At its Annual Stockholders’ Meeting this week, PhilWeb stockholders unanimously approved management’s proposal to make a private placement of up to 300m shares at a discount to market.

The shares will not be sold for less than P20.00 per share however, below its current share price of [...]

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