Converge has joined the FTSE Global Equity Index

ON TUESDAY, converge ICT Solutions Inc said that it would be included in the Financial Times Stock Exchange (FTSE) Global Equity Index later this month.

Converge announced that the index inclusion will go into effect on September 17.

According to the company, it is the only Philippine firm added to the FTSE Global Equity Index Series (GEIS) Small Cap Index in the most recent review.

“We are delighted to be included on this list of important and viable securities in the region.” This will give passive and active investors additional exposure, resulting in a more diversified portfolio in a promising market in this region,” stated Converge CEO Dennis Anthony Uy.

Converge stated that securities are included in the Global Equity Index Series if they meet the FTSE’s minimum voting rights, investability weight, liquidity, and trading history.

Converge president Grace Uy remarked, “This inclusion is additional proof to our growth and standing in the Philippines telecoms market.”

Converge announced at the beginning of the year that it will double its fiber network in 2020 and seek to connect 55% of total households in the Philippines by 2025.

“As of the end of June 2021, Converge’s domestic fiber network has crossed 8.3 million houses, or 32.5 percent of all Filipino households, as it begins to service Visayas and Mindanao this year,” the company stated.

Converge’s stock price has grown 108 percent since the beginning of the year as of the end of August, bringing its market value to P233 billion.

Source: ABS-CBN News

+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0

Enter your email and get notified when new content is added!

We don’t spam! Read our privacy policy for more info.

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend