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E-Games holds Listing Ceremony
The First Online Gaming Company to be publicly listed and traded in the PSE effective February 17, 2010.
Makati City, February 17, 2010 – Leading online gaming publisher IP E-Game Ventures Inc. (IP E-Games), a subsidiary of publicly listed technology firm IPVG Corp. (PSE: IP), will be holding its Listing Ceremony today, February 17, 2010. This marks the beginning of trading of stocks of IP E-Games, the first online gaming company to be publicly listed in The Philippine Stock Exchange, Inc. (PSE).
The stock will trade on the PSE under the symbol “EG”. The listing ceremony comes after IP E-Games secured approval from PSE last February 1, 2010, for the initial listing by way of introduction of 33,545,554 common shares, under the Second Board of the PSE, at an indicative reference opening price of P50.00 per share.
In a ceremony to be held at the trading floor of Philippine Stock Exchange in Ayala, Makati City, IP E-Games Chief Executive Officer Enrique Y. Gonzalez will sound the PSE opening bell at 9:30 a.m. today to mark its debut as a publicly listed company. The ceremony will be attended by IP E-Games board members, executives, initial shareholders, and honored guests.
IP E-Games is one of the leading online game publishers in the Philippines, with over 11 million registered gamers all over the country as of the end of 2009. IP E-Games offers a portfolio of online games including Massively Multiplayer Online Role Playing Games (MMORPGs) and casual online games. The company pioneered the free-to-play business model, wherein gamers are not required to pay a subscription fee to play online games but rather are given the option of purchasing “in-game items” to enhance their gaming experience. The company sells its virtual currency (e-Points) that is used to purchase these in-game items.
Listing by way of introduction involves the listing and trading of a company’s shares at the stock market without going through an initial public offering (IPO). However, the Philippine Stock Exchange requires companies who list, in compliance with the regulatory requirement, to conduct a public offering and comply with the minimum public ownership requirement within one year from listing.
IP E-Games, by virtue of being a firm registered with the Board of Investments, and being certified by the Bureau of Internal Revenue as not being a closely held corporation, qualifies to list its shares by way of introduction.
The leading online game publisher in the Philippines
IP E-Game Ventures Inc., was incorporated on November 22, 2005 primarily to engage in the business of interactive gaming and content distribution. It is the online gaming subsidiary of IPVG Corp.
Since commencing operations in 2006, IP E-Games has commercially launched six MMORPGs and three casual games in the Philippine market. It has 28 main distributors through which it covers the entire country, with a network spanning approximately 20,000 outlets such as internet cafés, independent kiosks, mini-marts, and computer shops.
MMORPGs allow a large number of players to interact with one another over the internet in a virtual world. Entire communities of gamers form around these games. The company’s MMORPG portfolio includes CABAL Online, a futuristic fantasy game, and RAN Online, a modern campus-themed game, and the popular beat mania game, Audition Dance Battle.
In a “Top-Of-Mind” survey conducted by the Asian Institute of Journalism and Communication in November 2009, from a market of over 40 games, Audition, RAN Online and CABAL Online were the top three games garnering over 41% of the responses. All three titles are from the portfolio of IP E-Game Ventures Inc.
In October 2009, X-Play Online Games, Inc. (“X-Play”), the company’s 50/50 joint venture with GMA New Media Inc. (GMA NMI), launched Operation7, a casual online first person shooter game. In January 2010, the company launched Runes of Magic, a quest-based MMORPG. X-Play plans to launch two new casual games, Super Star Online and BandMaster, within the first quarter of 2010.
$10 M deal with GEM Investment Group
On September 2009, IP E-Games secured a P500M deal with GEM Global Yield Fund Limited (GEM), with E-Games granting shares to GEM for up to an aggregate value of Five Hundred Million Pesos (Php 500,000,000.00), provided the average market price of the shares at the time of draw down is greater than or equal to 50 pesos per share.
The agreement provides that IP E-Games shall issue to GEM or to GEM’s order, one or more warrants to subscribe for up to P50 million worth of shares.
The funding will be used for E-Games’ future business activities and engagements.
The GEM Group (Global Emerging Markets) is a US$ 2.7 billion alternative investment firm engaged in the management of a diverse set of investment tools centered on emerging markets all over the world. It is a UK-based fund management group with offices in London, New York, Paris and Hong Kong.
The scope of GEM Group’s activities and investment is both US domestic and international, across a broad spectrum of industries and transactional structures. The Group has completed more than 230 transactions representing investment in over 200 companies in 45 countries across the world. GEM Group’s notable past investments include:
• $150 million equity line extended to Spyker Cars N.V. as a back-up to complete the acquisition of Saab Automobile AB.
• Php 300 million equity line of Credit to PSE Listed company IPVG Corp.
• Apollo Hospitals Group - Listed on the Mumbai Stock exchange, the company today represents the single largest integrated private sector healthcare company in Asia.
• Hyundai Securities (U.S.A.) Inc. - The largest securities firm in Korea ; operates the financial services arm of the Hyundai Group
• Cybertron Telekom AG – An Austrian company that provides telephone, data, and Internet access services to businesses and individuals through its own fiber, copper, and broadband wireless communications lines.
• Php 2 billion equity line of credit to PSE-listed mining firm Century Peak Metals Holdings Corp. (CPMHC)
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About IP E-Game Ventures Inc.
IP E-Games operates the online gaming business unit of IPVG Corp. IP E-Games is ranked as the leading online games publisher in the Philippines and holds the top titles in the Philippines, including RAN Online, Cabal Online, Audition Dance Battle, and Presidential Award recipient Korean game Granado Espada. Other games include Chinese MMORPG ZX Online and Korean title Nostale Online. The casual games of IP E-Games are published under X-Play Online Games Inc. (X-Play), a joint venture company between IP E-Games and GMA New Media Inc. (GMA NMI), the digital arm of GMA Network Inc. (GMA7). IP E-GAMES strategic minority investors include the Philippine Star Group and E-Store Exchange (an affiliate of GMA7). For more information, visit www.e-games.com.ph
Editorial Contacts
Erica G. Cortez
Marketing Services and Corporate Communications Specialist
IPVG Corp.
Tel No.: 63 (2) 976-4784
Email: erica.cortez@ipvg.com
2010 
