DFNN unit eyes listing in Singapore Exchange

ABS-CBN News

Posted at Aug 20 2020 09:52 AM

MANILA - Gaming technology firm DFNN Inc said Thursday its subsidiary iWave Inc would soon list in the Singapore Exchange (SGX) after acquiring the listing status of China Sky Chemical Fibre Co Ltd.

iWave entered into a Term Sheet agreement to transfer China Sky's listed status for SGD$4.45 million (USD$3.2 million), the gaming solutions provider said in a disclosure to the stock exchange. 

With 49 percent owned by DFNN, iWave's listing in SGX will expand its footprint in Singapore, it said. 

“Once completed, iWave will become one of only three Filipino companies to be listed in the prestigious Singapore Stock Exchange. Aside from credibility, SGX listing will give our firm greater access to global capital and the chance to offer our services to a wider customer base,” iWave CEO Ramon Garcia said.

iWave is engaged in software consultancy, systems integration, services for financial institutions such as payment gateway, core banking system, audit platform, credit card system and cyber security, DFNN said.