Fresh from raising P1.36 billion (US$30.4 million), through its maiden public offer earlier this month, Philippine mobile giant Xurpas Inc has opted for the inorganic expansion route, by acquiring a 21.7 per cent stake in the Singapore tech company Altitude Games for P33 million ($740,800).
According to the disclosure made by the company at the Philippine Stock Exchange (PSE), Xurpas will gain 24.7 million shares of the game developer at $0.03 per share, equivalent to $740,800 (P33 million).
