DFNN, Inc. announced that it expects to receive PHP 62.15 million in funding
April 19, 2017
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DFNN Inc. (PSE:DFNN) announced a private placement of 7,487,769 shares at PHP 8.30 per share for gross proceeds of PHP 62,148,482.7 on April 19, 2017. The transaction will include participation from Excel Century Investment Limited and/or any of its designated nominees, including but not limited to Franchette M. Acosta and Elmer Serrano; and nomination of directors of investor. The transaction has been approved by the board of directors of the company.
DFNN, Inc. is a Philippines-based information technology (IT) solutions provider and systems integrator. The Company is engaged in the provision of information technology services to financial institutions and gaming companies. The Company also develops, operates, and maintains Web-based and wireless applications for major corporate customers with strength in solutions for financial institutions and gaming companies and provides proprietary order routing software technology and Web-advertising services to stock brokerage firms. The Company is focused on financial transactions, software/middleware development, IT support services, secure platform development and turnkey implementation. Through its subsidiaries and affiliates, the Company also possesses licenses for electronic gaming machines (EGMs), a sports betting exchange, and digital and pari-mutuel games with the Philippine Amusement and Gaming Corporation (PAGCOR).