Published On Oct 8, 2020
IS CONVERGE ICT WORTH BUYING?
In this video we have Josh Garces from 2TradeAsia back in the podcast! This time I will ask him questions pertaining to the Converge ICT IPO! Is Converge ICT worth buying right now? What should you do if you are an investor? Join my Youtube Community: / @stocksmarts_
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Hi everyone! This will be the first video on our mute video series for the Converge IPO!
IPO Playlist: • Shakeys IPO
Merry Mart IPO: • MERRYMART IPO: FUNDAMENTAL ANALYSIS
If you guys have questions feel free to put them in the comment section as we will be doing more and more videos on this leading up to its IPO.
For those video we would focus more the the basic details of the IPO and also the company as we will do a deep dive on the later videos.
Before I continue, if you do not know what an IPO is, I have videos popping up here where we have links in the description that you could click.
The DEAL: 35.92 Billion Pesos
Making it one of the largest IPOs to date. If I remember it properly, Cebu Pacific and RRHI also had large IPOs. You can also Pilipinas Shell and Cemex to the mix.
Shares to be sold: 1.5 Billion Shares
Maximum IPO Price: 24 Pesos
Offering Period: October 13 - 19, 2020
Listing Date is schedule for October 26, 2020
Founder: Dennis Anthony Uy and backed by Warburg Pincus. Warburg Pincus has poured over 225 Million USD in equity.
WHAT MAKES IT INTERESTING:
What I believe makes this interesting is they are in the broadband market, which is I believe underserved in the Philippines.
Stats have shown that fixed broadband would increase to 32% by 2025 from just 17% for 2020.
Market Share: 54% of high speed residential fixed broadband
2019 Revenues hit 9.14 Billion Pesos
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To mail us stuff:
Attn: Yvonne Goh Germo (Please email or call first so we know we are expecting)
28 A Roxas Chua Circle Pacific Village, Muntinlupa City, Metro Manila, Philippines
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For business inquiries contact my team: [email protected]
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