HatchAsia, the gaming subsidiary of Philippine-based DFNN, has announced that it plans on listing its shares by introduction. The Manila Standard reports that the company will list 275.2 million registered shares with the Philippine Stock Exchange (PSE) at an initial price of $0.09 each. The amount is expected to produce around $27.2 million.

“Listing by introduction” is defined as a way to list shares that are already in issue on another exchange. The process for receiving approving for a listing by introduction is the same as they are for an initial public offering (IPO). In order for HatchAsia’s offering to be approved by the PSE, it will distribute eight million common shares to DFNN shareholders in the form of property dividends.

The idea first surfaced with HatchAsia this past May. It had brought in China Bank Capital to act as an adviser, and hopes that the cash flow will help it introduce a new product to the Philippines market. It wants to set up over 200 e-betting shops that, combined, would allow for online gaming from around 7,000 computers. The product is built around a slot machine that offers server-based games across two screens. Software suppliers already in place on the InstaWin network will be added to the system.

The company is also hoping to offer banking services in the country. HatchAsia has a FinTech division that would cater to the 85% of the population that is currently unbanked. The platform would use VSAT (Very Small Aperture Terminal) technology to provide real-time online banking through payment centers that currently have little or no Internet capability.