Leading fiber broadband provider Converge ICT Solutions Inc. is backing the idea of multi-stakeholder coordination – among government, ICT players, and utility companies – to make sure telecommunications infrastructure is already installed whenever new road infrastructure is built. Converge Chief Operations Officer (COO) Jesus C. Romero supported this ‘joint use’ mechanism whereby the government can […]Learn More
Converge joins FTSE ASEAN Stars Index as weights across all FTSE indices increasedBy: Converge Admin | 06 Oct 2021
MANILA, October 6, 2021 — Leading Philippine fiber internet provider Converge ICT Solutions Inc. (PSE: CNVRG) has been included in the global benchmark Financial Times Stock Exchange (FTSE) ASEAN Stars Index comprised of the top 30 companies in the exchanges of six countries in southeast Asia, namely, Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.
According to the FTSE Russell website, the ASEAN Stars Index is intended to serve as a barometer and should not be used as the basis for investment products.
The inclusion of Converge to this new index under the FTSE ASEAN Index Series was made as the weights of Converge stocks across all FTSE indices increased from August to September this year.
“We are pleased to see an improvement in the weights of Converge stocks across all FTSE indices as it reflects the continued strong growth of the company amid our fiber roll-out nationwide,” said Converge President Maria Grace Uy.
Converge shares rose to a new all-time high of P42 per share at the close of trade Tuesday, with its market capitalization now reaching over P300 billion.
The internet service provider was earlier included in the FTSE Global Equity Index Series under the Small Cap Index. Before that, Converge was admitted to the FTSE Renaissance IPO Index and the FTSE ASEAN All-Share Index.
Converge also qualified for early inclusion in the 30-member Philippine Stock Exchange Index (PSEi) that groups the largest, most valuable, and most stable companies in the country.
“Converge is really just trying to fulfill its mission of bringing world-class connectivity to the unserved and underserved areas in the country. We are truly grateful to see that our investors believe in this mission and continue in this journey with us,” said Converge CEO Dennis Anthony Uy.
The fiber internet company connected Visayas and Mindanao to its domestic backbone last April and would soon complete the second phase of its domestic submarine cable project that would connect all the major islands in the archipelago to its fiber backbone.
As of end-June 2021, total residential subscribers of Converge reached almost 1.4 million as it saw tremendous take-up of its fiber broadband services in new areas, particularly in Cebu.
Dennis Anthony H. Uy
Converge CEO and Co-founder
Grace Y. Uy
Converge President and Co-Founder
Converge opened the third quarter of the year with its domestic fiber backbone landing in Roxas, Mindoro, part of the second phase of its inter-island nationwide connection.
About Converge ICT Solutions, Inc.
Converge Information and Communications Technology Solutions, Inc. (PSE:CNVRG) is the leading pure fiber data network and internet service provider in the country. It is the first to run a pure end-to-end fiber internet network, providing Filipinos simple, fast, and reliable internet connection. Converge is ISO 9001 and CE2.0 Certified.
CONVERGE EXTENDS FREE CONNECTIVITY, LEARNING TABLETS IN PAMPANGA IN SUPPORT OF CDC’S PAGSASARILI PROGRAM
Leading fiber broadband provider Converge ICT Solutions Inc. has signed a memorandum of understanding with Clark Development Corp. (CDC) and the city government of Mabalacat for the extension of free connectivity and provisioning of learning tablets to select schools in Pampanga. Converge Founder and CEO Dennis Anthony Uy said the company has always endeavored to […]Learn More
NETWORK ADVISORY RE: SUPER TYPHOON KARDING September 26, 2022 | As of 1:00PM Converge network services have been adversely affected in the areas hardest hit by Super Typhoon Karding (Noru), including some parts of Aurora, Pangasinan, Nueva Ecija, Tarlac, Pampanga, Zambales, and Bulacan. Power outages, extreme flooding, and fiber cuts due to damaged poles have […]Learn More