PLDT Inc. on Tuesday said its board of directors has approved the subscription to 1.215 billion additional common shares of Kayana Solutions Inc., a data-powered digital experience company within the MVP Group.
The subscription, valued at P1.215 billion at a price of P1 per share, is subject to the execution of definitive agreements between PLDT and Kayana, PLDT said in a disclosure to the stock exchange.
The Pangilinan-led telco said payment for the shares would be made on a date to be agreed upon by both parties.
PLDT currently owns 45 percent of Kayana, while the Manila Electric Co. (Meralco) and Metro Pacific Investments Corp. (MPIC) each hold 27.5 percent.
Upon completion of the additional subscription, PLDT said its ownership in Kayana would remain at 45 percent, maintaining the existing proportional stakes among the shareholders.
The telco said that its additional investment in Kayana “is part of a collective effort to drive new opportunities for growth and value within the MVP Group.”
Kayana Solutions leverages data from the MVP Group to deliver hyper-personalized customer experiences and insights aimed at enhancing engagement across the group’s businesses.
Several key officers of Kayana also hold positions at PLDT. Kayana Chairman Victorico Vargas serves as leadership transition officer of the telco, while Kayana President and CEO Joseph Ian Gendrano is a senior vice president of PLDT.
Meanwhile, lawyer Marilyn Victorio-Aquino, corporate secretary of Kayana, is also a director and senior vice president of PLDT, while Anna Karina Rodriguez, Kayana’s chief financial officer, is a first vice president of the telco.
According to PLDT, the additional subscription to Kayana shares reflects its commitment to its strategic partnership with the subsidiary in support of initiatives to enhance digital and data-driven services across the MVP Group.
PLDT shares on Tuesday rose P12.00, or 0.89 percent, to close at P1,360.00 each.
