DIGIPLUS Interactive Corp. (PLUS) Chairman Eusebio H. Tanco increased his stake in the listed gaming and leisure company with the purchase of 63.12 million shares, representing 1.4% of the company’s total issued and outstanding shares on Friday.
The shares were acquired at P16.40 each, DigiPlus said in a regulatory filing on Monday. The 63.12 million shares were worth roughly P1.04 billion.
“DigiPlus is entering an exciting phase of growth. We have built market-leading platforms anchored on responsible innovation, disciplined execution, and long-term growth,” Mr. Tanco said. “I firmly believe in our ability to capture the significant opportunities ahead and deliver enduring value to our shareholders. The fundamentals of the digital entertainment industry remain strong, and DigiPlus is well-positioned to lead,” he added.
“I think Eusebio Tanco buying up a big chunk of PLUS shares was likely meant to offset market concerns after Andy Tsui and Hu Jianguo exercised their ESOPs,” Unicapital Securities Equity Research Analyst Jeri R. Alfonso said in a Viber message.
“For context, Mr. Tsui exercised his options last week with the ESOP (employee stock ownership plan) exercise price at P2.68. With the stock currently trading at P16.60, that’s an immediate paper gain of around P156 million for him alone,” she added.
Ms. Alfonso also noted that no lock-up period applies, allowing them to trade or sell those shares on the exchange at any time.
“That’s probably why Mr. Tanco stepped in with a massive purchase, to help counter the negative sentiment and steady PLUS’ stock price,” she said.
The purchase occurred amid the company’s ongoing expansion of digital entertainment platforms tailored for the Philippine market.
“Led by a seasoned and execution-driven management team, DigiPlus continues to invest in proprietary research and development, cutting-edge technologies, and best-in-class user experience capabilities to strengthen its competitiveness,” the company said.
“It is also institutionalizing a robust responsible gaming and player protection framework, positioning DigiPlus for sustained, long-term value creation,” it added.
On Monday, shares in DigiPlus rose 3.73% to close at P16.70 apiece. — Alexandria Grace C. Magno
