{"id":777038533,"date":"2026-02-27T08:42:04","date_gmt":"2026-02-27T11:42:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777038533"},"modified":"2026-04-21T13:59:37","modified_gmt":"2026-04-21T16:59:37","slug":"international-entertainment-approves-digiplus-hk1-6bn-convertible-notes-deal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/international-entertainment-approves-digiplus-hk1-6bn-convertible-notes-deal","title":{"rendered":"International Entertainment approves DigiPlus convertible notes arrangement"},"content":{"rendered":"\n

The transaction would make DigiPlus IEC\u2019s largest investor. <\/p>\n\n\n\n\n\n\n\n

The Philippines.- DigiPlus<\/strong> has received approval from shareholders of International Entertainment Corporation (IEC)<\/strong> to acquire HK$1.6bn<\/strong> (US$204.6m) in convertible notes, bringing it closer to becoming the controlling shareholder of the Hong Kong-listed operator.<\/p>\n\n\n\n

Once fully converted, the notes would translate into a 53.89 per cent <\/strong>shareholding for DigiPlus<\/strong>, positioning the Philippine firm as IEC\u2019s largest investor. In a filing by IEC, the company stated that the resolutions were adopted with 100 per cent approval<\/strong> at the Extraordinary General Meeting<\/strong> held on February 26<\/strong>.<\/p>\n\n\n\n

Since the shareholding would place DigiPlus above the takeover threshold under Hong Kong\u2019s Takeovers Code, IEC has secured a Whitewash Waiver<\/strong> from the Securities and Futures Commission\u2019s Executive, exempting the Philippine firm from making a mandatory general offer upon conversion. The waiver passed with over 75 per cent<\/strong> of votes from independent shareholders.<\/p>\n\n\n\n

IEC also obtained consent from to allow part of the proceeds from the convertible notes issuance to be used for the early repayment of promissory notes.<\/p>\n\n\n\n

In an earlier statement, IEC noted that the deal would strengthen liquidity and help fund its long-term investment plans, including a $1\u20131.2bn obligation to convert its Pagcor-licensed New Coast Hotel Manila<\/strong> into a full integrated resort. The company confirmed in its 2025 half-year earnings report<\/a>, released Wednesday, that the renovated Manila resort will hold a grand reopening in July.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Galaxy Entertainment posts strong full-year growth in 2025<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The transaction would make DigiPlus IEC\u2019s largest investor.<\/p>\n","protected":false},"author":2395,"featured_media":16435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"DigiPlus has secured shareholder approval to acquire HK$1.6bn in convertible notes from International Entertainment Corporation (IEC), positioning it as IEC's controlling shareholder with a 53.89% stake upon conversion. This transaction, which received a Whitewash Waiver from Hong Kong's SFC, will bolster IEC's liquidity and fund its $1-1.2bn obligation to transform the Pagcor-licensed New Coast Hotel Manila into an integrated resort, set for a July reopening.","focusai_entities":"DigiPlus, International Entertainment Corporation, Securities and Futures Commission, Pagcor","focusai_location":"Philippines, Hong Kong, Manila","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Post-Merger Synergies","query":"What are the projected operational and financial synergies DigiPlus anticipates from gaining controlling interest in IEC, particularly concerning the integrated resort development?"},{"label":"Regulatory Precedent","query":"How might the SFC's decision to grant a Whitewash Waiver in this specific M&A context influence future takeover bids and regulatory interpretations within Hong Kong's capital markets?"}],"footnotes":""},"categories":[16338,163],"tags":[24370,25138,405],"class_list":["post-777038533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-digiplus","tag-international-entertainment-corporation","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777038533"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038533\/revisions"}],"predecessor-version":[{"id":777038557,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038533\/revisions\/777038557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16435"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777038533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777038533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777038533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}