MVP firms raise investments in new tech, payments holding company

Manila Electric Co. (Meralco) and Metro Pacific Investments Corp. (MPIC), both under tycoon Manuel V. Pangilinan, have increased their stakes in DigiCo, formerly Kayana Solutions Inc. The companies signed separate agreements for a combined subscription of 570 million new common shares.

Following these transactions, DigiCo is now 45 percent owned by PLDT Inc., with Meralco and MPIC each holding 27.5 percent.

Earlier, DigiCo also announced new deals, including the acquisition of 10 percent of Bayad Center from Meralco and 100 percent of Multipay Corp. from PLDT’s Multisys Technologies Corp. 

Other assets within PLDT's and MPIC’s portfolio include telco and toll road payments, as well as digital bank Maya, which serves millions of customers.

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