PLDT Inc. unit Voyager Innovations Inc. expects to raise $80 million by yearend to finance the capital requirements of its digital bank app Maya for 2024.
Manuel Pangilinan, PLDT chairman, recently said both PLDT and First Pacific Co. Ltd. subscribed to $80 million fundraising for Maya that is expected to be completed before the year ends.
“…the commitment that we received for the full subscription… both PLDT and First Pacific subscribe to not only on the ratable share but by way of rights, so both PLDT and First Pacific subscribe to their proportionate share of the ($80 million),” Pangilinan said.
He also said the $80 million fundraising is fully subscribed although some shareholders did not participate.
“There are one or two shareholders who did not participate, even in the first round or second round of the fundraising. It’s been fully subscribed… hoping (to close) before yearend,” Pangilinan added.
Voyager’s existing investors, aside from PLDT and First Pacific, include KKR & Co., Tencent Holdings Ltd., International Finance Corp. (IFC), IFC Emerging Asia Fund, IFC Financial Institutions Growth Fund, and SIG Venture Capital, EDBI.
