A regulatory filing on Friday showed that Colonial Group Holdings Corp., an early investor in DigiPlus’ online bingo shift, sold its 7.32 percent stake for nearly P8.5 billion.
PLUS shares gained over 2 percent after the announcement.
This was a block sale transaction executed on Nov. 20 involving 330 million shares sold at P25.65 each, stock exchange data showed.
Colonial Group Holdings, among the top five largest minority stockholders of DigiPlus, entered the gaming leader between 2022 and 2023 when the stock was trading below P2 each, meaning it exits with a return of over 10 times in just a few years.
The shares were snapped up by a new investor group. For market observers, this also signals that appetite for online gaming remains strong despite a more regulated environment.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
