SINGAPORE: The Philippines’ Converge ICT Solutions Inc is targeting the country’s biggest initial public offering (IPO) after setting price terms to raise as much as US$680mil, sources said, amid a boom in demand for fibre broadband during the pandemic.
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 South-East Asia’s underperforming markets.
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