Philippine IT and gaming technology firm DFNN Inc. announced plans to subscribe to 17.5 million common shares of its subsidiary, Inter-Active Entertainment Solutions Technologies Inc. (IEST), valued at PHP17.5 million (US$301,872). The shares will be acquired at PHP1.00 each, according to a disclosure to the Philippine Stock Exchange.
DFNN confirmed that 25% of the subscription amount, or about PHP4.4 million, will be paid upfront in cash as IEST’s paid-up capital. The funds will support upcoming projects under IEST, the company added.
The investment remains subject to approval from the Philippine Securities and Exchange Commission (SEC), as IEST is seeking to increase its authorized capital stock by PHP70 million, equivalent to 70 million shares.
Founded in 2004, IEST is a wholly-owned subsidiary of DFNN. It operates as an IT solutions provider specializing in gaming technologies, and it currently holds multiple gaming licenses from PAGCOR. Among its proprietary platforms are Instawin and Xchangebet, both licensed until 2033, which allow the company to deploy systems across partnered outlets, computer terminals, and mobile devices.
IEST’s clients include several online casino operators in the Philippines, reflecting the firm’s role in powering licensed gaming platforms nationwide.
Earlier this year, DFNN also strengthened its compliance and governance team by bringing on an executive from the New Hampshire Lottery (USA) to enhance regulatory expertise and aid in addressing illegal gaming activities.
