IEC completes first HK$800m tranche of DigiPlus convertible notes deal

The remaining tranche is expected to be finalised within three months of the first closing, unless both parties agree in writing to extend the timeline.

Hong Kong.- In a filing with the Hong Kong Stock Exchange, International Entertainment Corporation has confirmed that it has received the first HK$800m (US$102.6m) tranche of its HK$1.6bn (US$205.1m) convertible notes agreement with DigiPlus. The company said all pre-agreed conditions were fulfilled before the deal closed on March 3.

According to IEC, the remaining tranche is expected to be finalised within three months of the first closing, unless the parties agree in writing to extend the timeline. This transaction will involve the issuance of an additional HK$800m (US$102.6m) in convertible notes.

The terms of the deal were set out in the subscription agreement signed on November 17, 2025. At that time, IEC’s issued share capital stood at 1,369,157,235 shares. Upon full conversion of the convertible notes, the company’s total shares will increase to 2,969,157,235.

The net amount raised from the two tranches is expected to reach about HK$1.59bn (US$204.9m), after deducting relevant costs and expenses of around HK$2m. In previous statements, the company indicated that part of the proceeds will help finance enhancements and operational preparations at its refurbished New Coast Hotel Manila, which is scheduled to open in July 2026.

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See also: International Entertainment approves DigiPlus convertible notes arrangement

The remaining tranche is expected to be finalised within three months of the first closing, unless both parties agree in writing to extend the timeline. Hong Kong.- In a filing with the Hong Kong Stock Exchange, International Entertainment Corporation has confirmed that it has received the first HK$800m (US$102.6m) tranche of its HK$1.6bn (US$205.1m) convertible…