PLDT seals USD40-M investment deal with IFC

In a regulatory disclosure Monday, PLDT said that the investment will complete the USD215 million financing into Voyager which includes the USD175 million from international investment firm KKR and Chinese Internet service provider Tencent Holdings Ltd which was finalized last November 28. (File Photo: PLDT/Facebook)

MANILA — PLDT Inc. has managed to close a USD40-million investment deal with the International Finance Corporation (IFC) and IFC Emerging Asia Fund for the purchase of newly-issued shares on its digital innovations unit Voyager Innovations.

In a regulatory disclosure Monday, PLDT said that the investment will complete the USD215 million financing into Voyager which includes the USD175 million from international investment firm KKR and Chinese Internet service provider Tencent Holdings Ltd which was finalized last November 28.

“PLDT’s stake in Voyager Innovations is now below 50 percent while remaining the single largest shareholder,” according to PLDT senior vice president and corporate secretary Ma. Lourdes Rausa-Chan.

PLDT Chairman and CEO Manuel V. Pangilinan said in an earlier interview that the company is eyeing to raise additional funding within two to three years after the completion of the USD215 million investment from Tencent, KKR, IFC and IFC Emerging Asia Fund which is aimed at promoting the use of digital payments in the Philippines.

The IFC, which is an international financial institution that provides investments in the private sector, is a member of the World Bank.