INTERNATIONAL Finance Corp. (IFC) and IFC Emerging Asia Fund has completed their $40-million investment in Voyager Innovations, Inc., according to the tech company’s parent PLDT, Inc.
PLDT told the stock exchange on Monday the finalization of IFC’s equity investment in Voyager effectively reduces its shares in the unit to below 50%. However, PLDT will remain the largest single shareholder in Voyager.
“This completes the $215-million fund-raise into Voyager Innovations that includes $175 million from KKR and Tencent Holdings, Inc. announced earlier,” the telecommunications giant said.
Last month, PLDT completed the $175-million investment of Chinese tech company Tencent and investment firm Kohlberg Kravis Roberts & Co. (KKR) into Voyager.
PLDT Chairman, CEO and President Manuel V. Pangilinan earlier said the fresh funds will be enough to facilitate the expansion of Voyager within the next two to three years. After which, PLDT will again seek more investors into Voyager.
Voyager is the PLDT unit that handles its mobile wallet PayMaya Philippines, Inc. and mobile remittance brand Smart Padala, online loaning platform Lendr, and free mobile browsing app Freenet.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — D.A.Valdez