MANILA, Philippines—Local technology firm Touch Solutions Inc. has sold 10 percent of its shares to a new investor via private placement as it raises cash for working capital in the coming year.
In a disclosure, Touch Solutions, which went public last year, said its board of directors had authorized the sale of six million of the firm’s unissued capital stock to a certain Yasuhiro Nakamura.
The shares would be issued at P5.50 each, a premium of 5 percent over the company’s 30-day average share price of P5.23.
This, however, is a discount over the company’s share price of P7.66 on Thursday, following a 4.93-percent increase over Wednesday’s…
Keep on reading: Investor acquires 10% of technology firm Touch Solutions
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