for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
IPOs - Asias

Philippines' Converge prices $600 mln IPO at bottom of guidance

MANILA, Oct 9 (Reuters) - Philippines’ Converge ICT Solutions Inc on Friday priced its initial public offering (IPO) at 16.80 pesos ($0.35) per share, near the bottom of an indicated range, in the country’s largest maiden share sale in seven years.

Converge, a fibre broadband services provider, is looking to sell 1.73 billion shares including overallotment option for a 29 billion Philippine pesos ($600 million) IPO. The company on Monday set the indicative price range at 16.50 to 19 pesos. ($1 = 48.3100 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Shri Navaratnam)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up