Discovery World Corp. (DWC) has hiked its stake in one of its subsidiaries, as the company targets to expand its resorts business.

In a disclosure to the stock exchange on Wednesday, Feb. 28, the company said it will subscribe to a total of 26.2 million shares of 100% of the total outstanding shares in Balay Holdings, Inc. With a par value of P1 per share, the subscription was priced at P26.2 million.

“This acquisition is in line with DWC’s business and will create opportunities for expansion of the corporation’s resort business,” the company said. — Arra B. Francia

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