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Philippines' Converge targets country's biggest IPO after narrowing price

Published 10/05/2020, 09:35 AM
Updated 10/05/2020, 09:40 AM

MANILA, Oct 5 (Reuters) - Philippines' Converge ICT
Solutions Inc has narrowed the selling price for its market
debut, with the fibre broadband services provider on course for
the country's largest initial public offering (IPO) if it meets
the top end of the price range.
Converge would sell its shares at 16.50 to 19 pesos ($0.3406
to $0.3922) each, sources with direct knowledge of the issue
said on Monday.
At the upper end, it could raise as much as $680 million,
they said.
Converge did not immediately respond to a request for
comment.
($1 = 48.4450 Philippine pesos)

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