XURPAS Inc.’s board has approved the sale of treasury shares as part of ongoing capital-raising efforts aimed at strengthening the firm’s financial position and addressing negative shareholders’ equity.
“On July 22, 2025, the Board of Directors of Xurpas Inc. approved the sale of its Treasury Shares to raise capital and improve financial position,” Xurpas told the stock exchange on Wednesday.
The move is part of a series of financial recovery measures initiated by Xurpas amid risks of potential delisting from the bourse.
Earlier this month, Xurpas disclosed that it was in talks to divest its 49-percent stake in PT Sembilan Digital Investama (SDI), a Jakarta-based mobile content company, as part of its compliance plan submitted to the PSE.
It is looking at finalizing definitive agreements for the SDI stake sale by September 2025.
Xurpas said it would also implement cost rationalization, equity restructuring, and a private placement with prospective investors.
Discussions regarding the private placement are ongoing, with the goal of execution within the second half of 2025.
The company plans to seek approval from the Securities and Exchange Commission to use additional paid-in capital to reduce its accumulated deficit.
Xurpas has said that it would be expanding into enterprise services such as IT staff augmentation and artificial intelligence consulting.
It is also developing digital solutions for small and medium enterprises while strengthening brand positioning through marketing and international growth initiatives.
Xurpas’ share price fell by 29 centavos to close at P0.20 each on Wednesday.
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