Connect with us

Hi, what are you looking for?

Economy

Listed IP E-Game transforms into fintech

LISTED IP E-Game Ventures, Inc. is changing its name to Oasis Financial Group Inc., as part of its plan to engage in the fintech (financial technology) business.

IP E-Game Ventures, which was formed to engage in the business of gaming, entertainment, and content distribution, among others, now wants to engage in the fintech business including banking and electronic payments, the listed company told the local bourse on Jan. 26.

It will likewise engage in venture capital investment, financing, P2P, remittances, and foreign exchange, among others.

The listed firm also used to engage in the business of hotel, tourism, leisure, food and beverage.

“The change in corporate name and purpose is in relation to the corporation’s plans to transform the company into a company engaged in financial technology,” it said.

The company said its new corporate name has yet to be approved by the Securities and Exchange Commission for availability.

In a disclosure on Thursday, IP E-Game Ventures confirmed that GMA Network, Inc., which has 3.52% stake in the company, is among its minority owners.

Also, GMA New Media, Inc., a wholly owned subsidiary of GMA Network, has 2.20% stake in IP E-Game Ventures.

“Both companies are minority shareholders of IP E-Game Ventures, and will be participating in its upcoming Annual Shareholders Meeting to be held this Feb. 16, 2021, where the new business direction of (the company) will be taken up and submitted for approval by the shareholders,” it said.

The listed firm recently announced that it had executed term sheets for the acquisition of 60% of the capital stock of Fastcash Remittance, Inc., and for a minimum of 47% up to 80% of the capital stock of I-Pay Commerce Ventures, Inc. — Arjay L. Balinbin

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks...

Economy

By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative”...

Economy

THE PHILIPPINE auto industry’s sales recovery will likely be derailed if a measure reimposing excise taxes on pickup trucks is signed into law, according...

Economy

THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected to...

Economy

THE ASIAN Development Bank (ADB) is planning to allocate at least $14 billion for a program aimed at easing a food crisis in the...

Investing

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.