DigiPlus Interactive Corporation Board Approves Private Placement for Fund Raising
March 9, 2022
The holding company of the nation’s biggest bingo parlor, DigiPlus Interactive Corporation (DigiPlus Interactive Corporation), is looking forward to raising around Php2.1 billion to support the company’s growth and expansion plans.
On March 7, 2022, DigiPlus Interactive Corporation’s Board of Directors approved a private placement on the Company’s unissued capital stock of One Billion Two Hundred Seventy-Two Million Three Hundred Fifty-Two Thousand Five Hundred Twelve (1,272,352,512) common shares at an issue price of Php1.65 per share, which shall raise a total of Php2,099,381,645.
The funds raised will be used for developing the Company’s online platform aiming to provide its clients new and better gaming experience. Furthermore, part of the funds will also be used to finance the operational and capital expenditures of the company, and to lower down the Company’s overall debts by paying off some of the loans.
As one of the leading icons of the industry, DigiPlus Interactive Corporation is aggressive in innovations and improvement of its products and services. One of the most recent notable achievements would be BingoPlus. It is the first platform in the country which offers online traditional Bingo. The online platform, bingoplus.com, was launched in January 2022 and had quickly become a community favorite. Additionally, it awarded 8 millionaire Jackpot winners in just a month.
It is worth noting that the private placement signifies that DigiPlus Interactive Corporation has strong growth potential, and continuous trust and support from our investors. The company’s Chairman, Mr. Eusebio Tanco, holds a positive outlook on the new developments and actively participated in the private placement as well.
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