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Converge ICT targets Philippines biggest IPO by tapping web boom

October 5, 2020
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By Anshuman Daga, Neil Jerome Morales

SINGAPORE/MANILA (Reuters) – Philippines’ Converge ICT Solutions Inc is targeting the country’s biggest initial public offering (IPO) after setting price terms to raise as much as $680 million, sources said, amid a boom in demand for fibre broadband during the pandemic.

FILE PHOTO: A Filipino online tutor wears a wig as he talks to students from a computer in the head office of 51Talk, as the spread of the coronavirus disease (COVID-19) continues, in Pasig City, Metro Manila, Philippines March 12, 2020. REUTERS/Eloisa Lopez

Converge, which is banking on higher internet demand for e-learning and working from home during the pandemic continuing, joins other companies in Malaysia and Thailand planning listings this month, signalling a revival in investor interest in Southeast Asia’s underperforming markets.

Converge has set the sale price at 16.50 to 19 pesos ($0.3406 to $0.3922) per share, sources with direct knowledge

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Web Hosting Services | Yahoo! Small Business

May 8, 2020
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Ecommerce Platforms, Web Hosting, Domains Search, Website Builder

May 4, 2020
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It takes a lot to turn an idea into a business. Being a team of one means taking on the work of ten. Whether you’re starting out or scaling up, we’re here to help.

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