Warburg Pincus, aims to raise around US$138m via selling its 3.6% in Converge ICT (CICT). The sale will be accompanied by a company buyback and a private transaction. Warburg had earlier sold in the IPO and then in Nov 21, and this trade will be a cleanup. In this note, we will run the deal through our ECM framework.
One of Converge ICT’s (CICT) shareholders, Warburg Pincus, aims to raise around US$219m via selling part of its shareholding. The deal comes close to the one year lock-up expiry post listing and hence, there is a high likelihood that the selldown might have been expected. In this note, we will run the deal through our ECM framework.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Converge ICT (CICT) aims to raise around US$600m in its Philippines listing. Converge ICT is the largest high-speed fixed broadband operator in the Philippines, by high-speed residential fixed broadband subscriptions. It also claims to be the fastest growing fixed broadband operator in both the residential and enterprise market. CICT’s revenue has grown at 69% CAGR over FY16-19, with growth being led by its residential business whose revenue has increased at 95% CAGR. Gross profit grew at 56% ...
Converge ICT aims to raise around US$500m in its Philippines listing. Converge ICT (CICT) is the largest high-speed fixed broadband operator in the Philippines, by high-speed residential fixed broadband subscriptions. It has a 54% market share as of Mar 2020, according to MPA. It also claims to be the fastest growing fixed broadband operator in both the residential and enterprise market. CICT owns and operates an end-to-end fiber network in the Philippines, with over 30,000 kilometers of fiber...
Converge ICT aims to raise around US$500m in its Philippines listing later this year. Converge ICT (CICT) is the largest high-speed fixed broadband operator in the Philippines, by high-speed residential fixed broadband subscriptions. It has a 54% market share as of Mar 2020, according to MPA. It also claims to be the fastest growing fixed broadband operator in both the residential and enterprise market. CICT owns and operates an end-to-end fiber network in the Philippines, with over 30,000 kil...
Converge ICT aims to raise around US$500m in its Philippines listing later this year. Converge ICT (CICT) is the largest high-speed fixed broadband operator in the Philippines, by high-speed residential fixed broadband subscriptions. It has a 54% market share as of Mar 2020, according to MPA. It also claims to be the fastest growing fixed broadband operator in both the residential and enterprise market. CICT owns and operates an end-to-end fiber network in the Philippines, with over 30,000 kil...
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