GAMING COMPANY DFNN, Inc. is incorporating a new subsidiary that will function as a holding firm for future acquisitions.
In a disclosure to the stock exchange yesterday, the listed firm said its board of directors had approved forming a company with an authorized capital stock of P100 million and a subscription of P25 million. The stocks of the subsidiary will be fully subscribed by DFNN.
“The incorporation of this wholly-owned subsidiary is intended to be used as a holding vehicle for future asset acquisitions as may be deemed proper by the board,” it said.
Some of DFNN’s existing subsidiaries are Inter-active Entertainment Solutions Technologies, Inc.; Pacific Gaming Investments Pte. Ltd.; HatchAsia, Inc.; iWave, Inc.; and PGI Systems PTE Ltd.
While the company’s business is currently comprised largely of gaming operations, it also provides information technology solutions to corporate clients like financial institutions.