Quantcast
Latest Stories

Investor acquires 10% of technology firm Touch Solutions

By

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 close.

At P5.50, the newly issued shares are worth P33 million.

“The parties are still finalizing the terms of the applicable subscription agreement in order to effect the private placement,” Touch Solutions told the local bourse this week.

“As soon as practicable, the filing of the application to list the newly issued shares with the Philippine Stock Exchange would be filed,” it added.

The new shares will make up 9.72 percent of Touch Solution’s total expanded capital once the transaction is completed.

“The proceeds to be received by Touch Solutions from the issuance of new shares will be used as part of its working capital, as well as for investment in its present and future projects,” Touch Solutions said.

Touch Solutions started commercial operations in 2002 offering and distributing accounting software in the country, specifically the Peachtree accounting system.

Touch Solutions also has a unit in Japan, Touch Solutions Japan Co. Ltd. (TSI Japan) in Tokyo, which markets software development services using open source technologies to leverage on its technical base.

The company also offers IT Consultancy and Systems Integration (CSI) services that provide open sourced-based solutions to solve IT systems and business problems.

The sale of the new shares comes just over a year after Touch Solutions listed on the local bourse.

Apart from its operations in the Philippines and Japan, Touch Solutions also wants to expand in other Asian territories such as Hong Kong, Thailand, Singapore and Malaysia.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: acquisition , fund raising , Philippines , private placement , shares , Touch Solutions , Yasuhiro Nakamura

  • pfc_kulapu

    Ang Mga walang hiyang mga NPA nakipila sa mga government donation…Mga Patay Gutom, doon kayo hingi ng tulong kay Tanga Joema Sison…..

    Pak PDI you block my account in political issue…

     



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace