Softbank Investment to acquire Philippine network company for HK$19.48 mln

Softbank Investment International (0648) said that it had signed an agreement with an independent third party Digicom Resource to acquire the whole shareholding of Digicom Resources for HK$19,48, which would be paid by issuing 19,48 mln new shares at HK$1 each.Digicom Resources holds the shareholding of the relevant network business in Philippine including providing the network service and electronic trading platform.The consideration shares of the acquisition accounted for 0.87% of the enlarged capital and the purchasing price had a 28% discount to the closing price of HK$0.78 of last Friday. The relevant dealing was expected to finish on or before May 9.

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