Converge ICT targets Philippines biggest IPO amid regional market revival

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Reuters
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1601877853111917700
Mon, 2020-10-05 05:13

SINGAPORE/MANILA: Philippines’ Converge ICT Solutions Inc. plans to raise as much as $680 million in an initial public offering that would be the country’s largest ever, sources said on Monday, encouraged by a coronavirus-spurred boom in demand for fiber broadband.
Converge joins a host of Southeast Asian companies planning listings, including Thailand Siam Cement Group Packaging’s $1.5 billion IPO, signaling a revival in investor interest in region’s underperforming markets.

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