In a significant move within the tech sector, PLDT (NYSE:PHI) has joined forces with Manila Electric Company (Meralco) and Metro Pacific Investments Corporation (MPIC) to invest in DigiCo, previously known as Kayana Solutions.
The companies announced their subscription to an additional 570 million common shares in DigiCo, marking a pivotal shift in the company’s ownership structure.
With this latest investment, PLDT has acquired a 45% stake in DigiCo.
Meralco and MPIC, on the other hand, will each hold a 27.5% stake.
This strategic realignment of ownership is set to substantially enhance DigiCo’s capacity for growth and solidify its market presence in the region.