Xurpas divests 49% stake in Indonesian firm

Xurpas Inc. has approved the sale of its 49-percent equity interest in Indonesian firm PT Sembilan Digital Investama (PT SDI). This is a move aimed at generating fresh funds for the technology firm’s working capital requirements.

In a disclosure on Wednesday, Xurpas said it expects to receive IDR 5 billion or about P17.6 million from the transaction.

The company said the proceeds will be used for general and working capital requirements.

Xurpas acquired its stake in PT SDI in 2015 for about P10.8 million. PT SDI wholly owns PT Ninelives Interactive, a licensed mobile content developer operating in Indonesia.

The listed firm said the target timeline for the signing of the share purchase agreement is February 2026. This is subject to the completion of transaction requirements. The company did not identify the buyer or provide additional terms of the sale.

Xurpas said the divestment forms part of its capital management initiatives as it seeks to strengthen liquidity and support ongoing operations.

The company did not indicate whether the transaction would have a material impact on its financial performance for the year.

Shares in Xurpas fell following the disclosure, sliding 3.61 percent to P0.24 on the Philippine Stock Exchange (PSE).

See Also

DOE doubles down in push for renewables, energy security

The stock was also down 4 percent over the past five days and has declined 3.23 percent since the start of the year, based on PSE data.

As of the latest filing, Xurpas has 2.51 billion common shares outstanding. It has a market capitalization of about P625 million.

The company said no changes to its corporate structure or primary business operations were disclosed in connection with the sale.