The company said in a disclosure the stock exchange it sold 610 million shares to Xterra Ventures Ptd. Ltd. and 1.59 billion shares to Summit Telco Corp. Pte. Ltd. at P1 apiece. DITO CME identified the two buyers as unrelated third-party subscribers.
DITO CME president Eric Alberto said the objective was to “raise as much as investment to be able to fund critical project of ours.” “As you know, the telco vertical is a very capital-intensive industry, and if we are to be true to our ambition to be a major enabler of digital services in the country, our first order of the day is for us to be able to raise the adequate funding,” he said.