BROKERS anticipate a high demand for Converge ICT Solutions, Inc.’s planned P35.92-billion initial public offering (IPO) due to positive prospects for the telecommunications sector.
Last Friday, the fiber internet provider submitted with the Securities and Exchange Commission (SEC) its registration statement to do a public offering of up to 1.5 billion shares at a maximum price of P24 each.
The offering is targeted to begin on Oct. 13 until Oct. 19, with listing on the main board of the Philippine Stock Exchange on Oct. 26.
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