HatchAsia to list 276.2 million shares by introduction

HatchAsia, the gaming services partner of Philippine-listed DFNN Inc., said it is planning to list its shares by introduction with the Philippine Stock Exchange.

HatchAsia will list 276,162,121 common shares under the main board of the PSE with an initial listing price of P5.28 per share. This amounts to approximately P1.45 billion (US$27.2 million)
Listing by Way of Introduction allows a company to join the Philippine Stock Exchange without having to sell shares to the public immediately.

The listing approval process for a new listing by introduction is as stringent as that for an initial public offering (IPO).

To qualify for Listing by Way of Introduction, DFNN will distribute 8 million common shares of HatchAsia as property dividends to its stockholders.

Under the plan, DFNN shareholders will receive one HatchAsia share for every 40.5775 DFNN shares owned.

HatchAsia first announced its intention to listing by way of introduction in May, with China Bank Capital acting as advisor.

The company is rolling out innovative products throughout the Philippines’ more than 200 e-gaming shops, which collectively offer gaming on about 7,000 computer terminals. Their products are designed to elevate the gaming experience similar to a casino.

Existing PAGCOR software suppliers, both web based and those on the InstaWin network, can easily be integrated onto the system.

Hatch also has a Fintech unit called Pay8 and is working on establishing a network of payment stations/centers in both urban and rural areas. The product is backed up by VSAT technology, enabling it to provide its payment solution services all over the country’s archipelago.