IPVG planning to raise funds anew

LISTED information-technology company IPVG Corp. is raising P150 million from the planned sale of 50 million shares via private placement.

The company told the stock exchange Wednesday that it has priced each share, taken from its authorized capital, at P3. IPVG recently increased its authorized capital from P800 million to P1 billion.

“The determination of the terms and conditions of the private placement was delegated to the executive committee,” the company said.

IPVG shares were valued P2.95 at the end of trading yesterday.

Last year, the company also sold through private placement some 50 million shares, valued at P400 million.

The proceeds from the sale were used to expand its data center, online games and contact-center operations.

The 2007 fundraising also allowed the company to invest in new capital equipment, fixed assets and increase its working capital for business expansion.

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IPVG planning to raise funds anew

LISTED information-technology company IPVG Corp. is raising P150 million from the planned sale of 50 million shares via private placement.

Due Diligencer

From creditor to stockholder. Deutsche Bank AG was one of the bank creditors of Victorias Milling Co. Inc., (VMC) which encountered financial crisis in the 1990s and which the Securities and Exchange Commission (SEC) placed under receivership / rehabilitation.