DigiPlus Interactive Secures Right to Acquire New Coast Hotel Manila via HK$1.6 Billion Convertible Bonds
MT Newswires Live
Nov 18
DigiPlus Interactive (PSE:PLUS) agreed to subscribe to HK$1.6 billion worth of convertible bonds in International Entertainment (HKG:1009), according to a Tuesday Philippies Exchange filing.
The subscription gives the company the right to acquire a controlling stake in the operator of New Coast Hotel Manila, the filing said.
The bonds will be issued in two tranches, with the first HK$800 million released once closing conditions are met, and the remaining tranche to follow within three months.
The bonds are convertible at HK$1 per share and carry a 3% interest rate, the filing stated.
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