Converge ICT may raise up to P32.87 billion in proceeds based on the new indicative maximum offer price. Nokia Corporation (NOK Quick Quote NOK - Free Report) has announced that Converge ICT, a leading Internet and digital services provider in the Philippines, opted for its fiber-to … The IPO price of Converge, announced on October 9, was P16.80 per share, at the lower end of its previously announced indicative price of P16.50 to 24.00 per share. Have Watchlists? You can find more details by going to one of the sections under this page such as historical data, charts, technical analysis and others. Foreign investors are net sellers today with a Net Foreign Selling worth ₱20,362,428.00. Converge ICT will make its debut in the Philippine Stock Exchange and will open at a maximum price of P24 pesos per share. MANILA — Converge ICT Solutions Inc’s shares slumped in early trade on Monday after the Philippine fiber broadband provider completed a $600 million IPO, the country’s second largest, despite market volatility amid the coronavirus pandemic. %USER_NAME% was successfully added to your Block List. For the best MarketWatch.com experience, please update to a modern browser. Philippines' Converge ICT Solutions Inc is targeting the country's biggest initial public offering (IPO) after setting price terms to raise as much as $680 million, sources said, amid a boom in demand for fibre broadband during the pandemic. All Rights Reserved. April WTI oil trades at $64.26/bbl on Nymex vs. $64.35 before the supply data, EIA reports U.S. distillate stockpiles up 300,000 barrels, EIA reports U.S. gasoline supplies edge up by 500,000 barrels, Dow edges upward and Nasdaq stumbles as Treasury yields rise ahead of Fed news, Best New Ideas in Retirement — virtual event today: Creating a DIY pension plan. Sign up to create alerts for Instruments, Company profile page for Converge ICT Solutions Inc including stock price, company news, press releases, executives, board members, and contact information © 2007-2021 Fusion Media Limited. Are you sure you want to block %USER_NAME%? Converge ICT Solutions Inc. COMPANY INFO. Subscriber Agreement & Terms of Use, Replace the attached chart with a new chart ? The company said proceeds from the planned IPO would be used to build its own backbone in Mindanao and establish an international gateway. The Company offers Hybrid IT solutions to assist them in their provision of multi-cloud solutions, blockchain and resiliency services, which enables the Company to address the business and IT issues that public and private-sector organizations face. Converge ICT is the fastest growing fiber internet and other world-class digital consumer-centric services provider in the Philippines today. Intraday Data provided by FACTSET and subject to terms of use. The offer period will run from Oct. 13 to 19. Copyright © 2021 MarketWatch, Inc. All rights reserved. Assuming a market price of PHP 16.80 per share, CNVRG’s Price-Earnings (P/E) ratio in 2020E is estimated to be around 37x. After CNVRG’s stock-split and preceding IPO, its earnings per share (EPS) will range from PHP 0.45 to PHP 0.70. 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View today's stock price, news and analysis for Converge Information & Communications Technology Solutions Inc. (CNVRG). The IPO … Your ability to comment is currently suspended due to negative user reports. All quotes are in local exchange time. Converge ICT shares closed at P15.22 apiece, 9.4 percent lower than the P16.78 opening price. The main index ended flat. Converge ICT would offer 1.7 billion shares. Please wait a minute before you try to comment again. Your status will be reviewed by our moderators. Majority of today’s trades were made by local traders. Related Stories. Information about the Converge Technology Solutions Corp Stock. This browser is no longer supported at MarketWatch. Converge Technology Solutions (CTSDF) acquired Accudata Systems, an IT consulting and integration firm providing high-impact IT infrastructure and security solutions and... Converge Technology Solutions Corp is a Canada-based software-enabled, hybrid information technology (IT) solution provider. Avoid profanity, slander or personal attacks. As of 12:58 AM EDT 03/15/2021 EDT. Converge Technology Solutions (CTSDF): Q4 adjusted EBITDA increased 98% over the last year to $23.4M.Revenue of $289.6M beats by $75.49M.Press Release. The Company’s regional sales and services organizations deliver advanced analytics, cloud, cybersecurity, digital infrastructure and managed services offerings. Converge ICT Solutions Inc. on Friday set its final initial public offering (IPO) price at P16.80 a share, lower than the initially indicated P24 and the revised P19. The Philippine Stock Exchange (PSE) has given the go-ahead for Converge ICT Solutions Inc. to proceed with its P41.55-billion initial public offering (IPO) later this month. Converge Technology Solutions (CTSDF): Q4 adjusted EBITDA increased 98% over the last year to $23.4M.Revenue of $289.6M beats by $75.49M.Press Release. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. The Company supports these solutions and digital infrastructure offerings across all IT vendors in the marketplace. The SEC confirmed reports of the IPO, noting that Converge ICT may offer almost 1.5 million shares at a maximum offer price of P24 per share for a total of P35.9 billion. High demand seen as Converge lowers IPO price to P16.8 per share. Log in to see them here or sign up to get started. MANILA (UPDATE) - Converge ICT Solutions Inc on Friday priced its initial public offering (IPO) at P16.80 per share, near the bottom of an indicated range, in the country's second largest ever listing.. Converge, a fiber broadband services provider, is looking to sell 1.73 billion shares including an overallotment option. This offering will amount to P35 billion pesos. 16.82 PHP. There are currently no items in this Watchlist. MANILA – Converge Information and Communications Technology Solutions Inc. (Converge ICT) moves forward with its initial public offering after earning the nod of the Philippine Stock Exchange (PSE) and receiving the permit to sell from the Securities and Exchange Commission. Converge ICT is the largest high-speed fixed broadband provider in the Philippines, by high-speed residential fixed broadband subscriptions, with a 54% market share as of 1Q2020. The top loser was Keppel Philippines Properties Inc., whose share price went down by 11.01 percent to close at P3.07 from the Oct. 22 closing price of P3.45. The stock climbed up by 2.19 percent. Nokia Corporation NOK has announced that Converge ICT, a leading Internet and digital services provider in the Philippines, opted for its fiber-to-the … Prices touched an intraday low of P14.92. Reuters reports that the firm is angling for approval to sell 1.496 billion shares at a maximum price of 24 pesos ($0.48). Zacks Equity Research October 08, 2020. Biden Supports Reviving Talking Filibuster in Senate, 16 small-cap stocks that could get a boost from ETF buying, Brutally honest, painful, humorous: Obituaries take on new life during COVID, EIA reports a weekly climb of more than 2 million barrels in U.S. crude supplies, These 3 IPOs Are Set to Begin Trading Wednesday. Economic Events and content by followed authors, Write your thoughts about Converge Technology Solutions Corp. Are you sure you want to delete this chart? Converge, now trading under the symbol $CNVRG, has a market capitalization of ₱126.44 billion upon going public. Converge Technology Solutions Corp News. Trades from $ 1 Converge ICT Solutions Inc. said Monday it reduced the maximum offer price for its initial public offering to P19 per share, down 21 percent from the previously indicated price of P24. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. A Top Real Estate Fund Looks Beyond REITs. Intraday data delayed at least 15 minutes or per exchange requirements. Historical and current end-of-day data provided by FACTSET. Find the latest CONVERGE TECHNOLOGY SOLUTIONS C (CTSDF) stock quote, history, news and other vital information to help you with your stock trading and investing. Since you’ve just unblocked this person, you must wait 48 hours before renewing the block. It may therefore take some time before it appears on our website. Visit a quote page and your recently viewed tickers will be displayed here. By doing so, you and %USER_NAME% will not be able to see Converge Technology Solutions beats on revenue. -0.36 -2.10%. Converge ICT Solutions, Inc. Philippine stock quote of (CNVRG) (Converge ICT Solutions, Inc.). Thanks for your comment. Filipino fibre broadband provider Converge ICT Solutions has filed for an IPO of up to 35.92 billion pesos ($725 million) on the country’s stock exchange. Update: As of October 7, 2020, Converge ICT (FIBER) announced that they are lowering their IPO price to P19 per share.