Global index provider Financial Times Stock Exchange Russell (FTSE Russell), a unit of the London Stock Exchange, has included Philippines’ leading fiber broadband provider Converge ICT Solutions Inc. (PSE:CNVRG) in the FTSE Renaissance IPO Index and the FTSE ASEAN All-Share Index.
“We welcome the inclusion of Converge in these FTSE indices as we join prestigious names recognized regionally. These will allow us to be more exposed to both passive and active investors who regularly monitor FTSE indices,” said Converge President Grace Uy. Included in the FTSE ASEAN All-Share Index early this year, Converge joins over a thousand companies in the region that have passed the size eligibility, free float, and liquidity criteria of the regional index.
A partnership between FTSE and ASEAN Exchanges, the FTSE ASEAN All-Share Index is designed to represent the performance of large, mid and small cap ASEAN companies listed on the Exchanges. It was established to promote ASEAN as a regional equity market grouping. Meanwhile, Converge was included in the FTSE Renaissance IPO Index shortly after its initial public offering (IPO) in the Philippine Stock Exchange in October last year. The FTSE Renaissance IPO Index is designed by Renaissance Capital and calculated by FTSE Russell. The IPO Index Series is designed to track the activity and performance of the global IPO market, and to add structure and transparency to these equities, providing market participants controlled access to the attributes of IPOs.
The IPO index constituents, of which there are currently 606 companies across 33 countries, are screened for size, liquidity and free float on a quarterly basis. This index covers all institutionally-investable IPOs in developed and emerging markets of operating companies with an initial investable market capitalization of at least $100 million. The FTSE Renaissance IPO Index Series covers Global, Developed and Emerging markets as well as the Americas, EMEA and Asia-Pacific regions.
Grace Y. Uy
President and Co-founder
Converge ICT Solutions Inc.