Sam Calleja/Rappler
(1st UPDATE) Fresh off Lance Gokongwei's P2-billion capital injection and appointment as chairman, PhilWeb is betting big on a multibillion-peso gaming tech investment that could define its turnaround
MANILA, Philippines – The Philippine Stock Exchange (PSE) will suspend trading in PhilWeb Corporation starting Tuesday, September 8, after the gaming technology firm disclosed a multibillion investment in JKS Tech Solutions Inc.
PhilWeb said on Monday, September 7, that it and wholly owned subsidiary PhilWeb Capital Corporation had signed subscription agreements covering a combined 10.73 million Common B shares of JKS at P394 apiece.
PhilWeb itself will subscribe to 3.41 million JKS shares worth about P1.34 billion, while PhilWeb Capital will take another 7.32 million shares.
