Xurpas to sell 49% stake in Indonesian unit for P17.6M

LISTED technology firm Xurpas, Inc. has approved the sale of its 49% equity interest in Indonesian company PT Sembilan Digital Investama (SDI) for about P17.6 million.

“Target timeline for the signing of the share purchase agreement is sometime in February 2026,” the company said in a disclosure on Wednesday.

PT SDI wholly owns PT Ninelives Interactive, its licensed mobile content and distribution arm in Indonesia.

Xurpas said the proceeds would be used to fund the company’s general and working capital needs.

In March 2015, the company acquired a 49% stake in SDI for P10.83 million.

Last year, Xurpas began exploring the sale of its stake in SDI to boost liquidity and address negative equity, which could risk involuntary delisting from the Philippine Stock Exchange.

The company had earlier disclosed preliminary talks with a prospective buyer, with proceeds earmarked for operations to improve financial performance and support long-term equity recovery.

Xurpas shares fell 3.61% to P0.240 apiece on Wednesday. — Alexandria Grace C. Magno