PSE approves IPVG unit's listing by introduction
02/01/2010 | 05:16 PM
Listed IPVG Corp.'s local online gaming unit has been allowed to list P1.68 billion worth of shares without necessarily selling these to the public.
IP E-Game Ventures, Inc.'s listing by introduction is the second this year following a similar move by Ayala unit Integrated Micro Electronics, Inc last month.
Listing by introduction involves the listing and trading of a company's shares on the stock market without having to sell new shares to the public.
It makes it easier for a company to eventually raise money by going public.
IP E-Game plans to list 33.54 million common shares at an opening price of P50 each on the bourse's second board.
"IPE [will] continue to be recognized in the books of IPVG Corp. as an investment in a subsidiary and recorded at cost," the parent firm said.
IP E-Game was set up in November 2005 for interactive gaming and content distribution. The company poinered the free-to-play online gaming model, which lets users play the company's games without paying for subscription fees.
Money is made by selling virtual items within the game to players who want an enhanced gaming experience. — GMANews.TV
IP E-Game Ventures, Inc.'s listing by introduction is the second this year following a similar move by Ayala unit Integrated Micro Electronics, Inc last month.
Listing by introduction involves the listing and trading of a company's shares on the stock market without having to sell new shares to the public.
It makes it easier for a company to eventually raise money by going public.
IP E-Game plans to list 33.54 million common shares at an opening price of P50 each on the bourse's second board.
"IPE [will] continue to be recognized in the books of IPVG Corp. as an investment in a subsidiary and recorded at cost," the parent firm said.
IP E-Game was set up in November 2005 for interactive gaming and content distribution. The company poinered the free-to-play online gaming model, which lets users play the company's games without paying for subscription fees.
Money is made by selling virtual items within the game to players who want an enhanced gaming experience. — GMANews.TV
