Hatchasia Inc., a 75.24-percent subsidiary of online financial services firm DFNN, is pursuing plans to undertake an initial public offering (IPO) as it tapped a financial advisor for the share sale.
In a disclosure to the Philippine Stock Exchange, DFNN said Hatchasia’s board of directors has approved the engagement of Amalgamated Investment Bancorp as issue manager and lead underwriter for the planned IPO.
Hatchasia is engaged in the process of providing facilities to start up and established firms needing shared systems and resources in the IT, logistics, education and BPO industries.
The company also looks at possible investments in high-growth industries such as online gaming, education and technologically innovative and creative companies. Another DFNN unit, BPO firm Intelligent Wave Philippines Inc. had announced plans to go public.
IWPI is in the business of providing IT business solutions for local and Japanese banks, as well as other financial institutions on an outsourced basis.
The funds to be generated from the IPO will be used to expand IWPI’s services and tap the opportunities that will open in Japan with the implementation of the Japan-Philippines Economic Partnership Agreement (JPEPA).
Majority of IWPI’s revenues will be derived from BPO contracts from Japanese companies. — Zinnia dela Peña