Share prices finished marginally higher yesterday as investors stay mostly on the sidelines amid worries over the pace of... DM Wenceslao earnings down 10% to P2.13 billion. 16.82 PHP. Bulacan airport to break ground in two months. View real-time stock prices and stock quotes for a full financial overview. It has around 750,000 residential customers, mostly from … Its network expansions will buoy growth within the next few years,” she said. D.M. By continuing to browse the site, you are agreeing to our use of cookies. The company said proceeds from the planned IPO would be used to build its own backbone in Mindanao and establish an international gateway. Stock analysis for International Container Terminal Services Inc (ICT:Philippines) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Wenceslao and Associates Inc. reported a net income of P2.13 billion last year, down 10 percent from P2.37 billion a year ago. Reliance IT Building, 99 E. Rodriguez Jr. Ave, Brgy. This site uses cookies. “We are a unique company in the Philippines,” he said. Outstanding Shares: 7,526,294,461. All else constant, a higher P/E ratio means the company’s stock is trading at a more expensive price relative to industry peers. Last Traded Price: 17.08: Open: 16.78: Previous Close and Date: 16.82 (Mar 15, 2021) Change(% Change) up 0.260 (1.55%) High: 17.16: P/E Ratio: Value: 62,364,358.00: Low: 16.58: Sector P/E Ratio: Volume: 3,684,500: Average Price… The internet service provider of Pampanga-based businessman Dennis Anthony Uy debuted at the Philippine Stock Exchange on Monday to mark the biggest public listing so far this year, pulled off despite the COVID … Converge was the top traded stock last week. The SEC confirmed reports of the IPO, noting that Converge ICT may offer almost 1.5 million shares at a maximum offer price of P24 per share for a total of P35.9 billion. The company raised a total of P29.1 billion ($600 million), enough to make it the second largest initial public offering ever in the history of the local bourse. List of Philippine Stocks. CNVRG | Complete Converge Information & Communications Technology Solutions Inc. stock news by MarketWatch. View today's stock price, news and analysis for Converge Information & Communications Technology Solutions Inc. (CNVRG). Decliners slightly outnumbered advancers, 107 to 102. and sensitive personal information that you may provide, please read carefully, You can also filter by Blue Chips Only, order by symbol, Share Price percentage, Price to … Metro Manila (CNN Philippines, October 26) — Converge ICT Solutions raised ₱29.1 billion as it went public on Monday, but its stock price dropped after the opening bell. In 2018, The Department of Information and Communication Technology (DICT) said that companies which are led by Converge ICT Solutions Incorporated, Now Corporation, and Philippine Telegraph & Telephone Corporation (PT&T) are competing to be the 3rd telco slot in the country in partnership with a China telco in a government-sanctioned bidding, but the slot fell into the hands of … In the 1st half of 2020, Converge generated P6.5 billion in revenues, which was 65% higher year-on-year. Copyright © 2021. Converge ICT, the fiber internet provider, made its debut on the stock market on Monday, October 26. Converge, now trading under the symbol $CNVRG, has a market capitalization of ₱126.44 billion upon going public. The Department of Transportation expects the long-delayed groundbreaking of the massive international airport project in Bulacan to push through in the next two months. I heard from General Carlito Galvez, chief implementor of COVID plans and vaccine czar, that the bulk of COVID-19 vaccines will arrive in the second quarter this year. Company profile page for Converge ICT Solutions Inc including stock price, company news, press releases, executives, board members, and contact information Ayala Land Inc. will infuse more commercial properties to AREIT Inc. in exchange for more shares, in a multi-billion peso... Philippines limits passenger arrivals from abroad to NAIA. Converge Information & Communications Technology Solutions Inc. historical stock charts and prices, analyst ratings, financials, and today’s real-time CNVRG stock price. The Philippine Stock Exchange Inc. ("PSE") respects and protects your personal data privacy. View real-time stock prices and stock quotes for a full financial overview. The Company offers fiber Internet and other digital consumer-centric services and is focused on offering end-to-end fiber Internet connections. On Monday, PSEi continued its winning streak, rising slightly 0.11% to end trading at 6,491.19. The Coalition of People's Right to Health said the “covidization” of healthcare amid the pandemic has sidelined... Ayala Land boosts AREIT's property holdings. The cap set at 1,500 passengers a day will be in effect from March 18 to April 18. Ugong Pasig City +632 8667 0848 customercare@convergeict.com But going forward, Agravio sees Converge’s aggressive expansion plans to pay off. MANILA, Philippines — There were no fireworks for the much-anticipated stock market debut of broadband services provider Converge ICT Solutions Inc. Pampanga-based businessman Dennis Uy— different from the one in Davao— may have raised P29.1 billion from its initial public offering two weeks ago, the second biggest on record, but once listed stock prices tumbled at the get-go and closed 9.4% lower than its offer price to P15.22 each. Shares of Converge, the most traded stock, fell 9.4 percent during its first day of trade, closing at P15.22 per share from its IPO price of P16.80. Sign up now! Converge Information & Communications Technology Solutions Inc, also known as Converge ICT Solutions Inc, is a Philippines-based Internet service provider. View the latest CNVRG stock quote and chart on MSN Money. — Habakkuk 3:18. Converge ICT shares closed at P15.22 apiece, 9.4 percent lower than the P16.78 opening price. Converge has benefited from increasing use of the Internet during the Covid … 52 Week Low: P13.20. There was a lot of anticipation going into Converge’s fund-raising, foremost of which was being held at a tumultuous time at the Philippine Stock Exchange index (PSEi). By 2025, Uy said Converge would have had covered 55% to 60% of Filipino households. As of 12:58 AM EDT 03/15/2021 EDT. Converge ICT Solutions Inc. COMPANY INFO. The broader all-shares index, however, dipped 0.02%. Here are things that would make you say yes, Be the next internet rising star with Mi 11’s exciting camera modes, filters, Awaken the gamer in you with these new Vertux gaming accessories, Six other diseases killed more Filipinos than COVID-19. To learn how the PSE processes and protects the confidentiality of any personal Converge ICT would offer 1.7 billion shares. Converge Technology Solutions Corp is a Canada-based software-enabled, hybrid information technology (IT) solution provider. Market Closed. The Company offers Hybrid IT solutions to assist them in their provision of multi-cloud solutions, blockchain and resiliency services, which enables the Company to address the business and IT issues that public and private-sector organizations face. The main index ended flat. and click the “I AGREE” button if you agree to the terms stated in. For Anna Corenne Agravio, equity analyst at Regina Capital brokerage, Converge’s IPO price might be too expensive for investors. As of November 6, 2020, at its last traded price of P15.00 per share, CNVRG’s market cap was P112.74 billion — less than half the market cap of competitors PLDT (P289.51 billion) and Globe Telecom (P268.73 billion) CTS | Complete Converge Technology Solutions Corp. stock news by MarketWatch. Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. High demand seen as Converge lowers IPO price to P16.8 per share For Anna Corenne Agravio, equity analyst at Regina Capital brokerage, Converge’s IPO … “We are fully committed to building the largest fiber broadband network in the Philippines,” he said. Converge ICT Solutions Inc., a multi-service telecommunications company, plans to hold an initial public offering and list in the Philippine Stock Exchange by 2018, a top executive said. The company aims to debut on the Philippine Stock Exchange (PSE) board on October 26. “Investors that weren’t interested in holding it for the longer term cashed out,” Chistopher Mangun, research head at AAA Securities Inc., said. Powerball’s $184 million jackpot could be won from the Philippines this Wednesday! Converge Information and Communications Technology Solutions, Inc. “This could have fueled today’s downturn,” Agravio added. Converge ICT Solutions Inc. on Friday set its final initial public offering (IPO) price at P16.80 a share, lower than the initially indicated P24 and the revised P19. “For its first week in the secondary market, Converge’s share price plunged 12.02% week-on-week to P14.78 due to its expensive valuation,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in an e-mail. P17.06. -0.36 -2.10%. After the Philippine Stock Exchange's approval of the IPO, Converge is the the 3rd firm to go public in 2020 despite volatility brought by the coronavirus pandemic. Latest Share Price and Events Stable Share Price : CNVRG is not significantly more volatile than the rest of PH stocks over the past 3 months, typically moving +/- 5% a week. The stock closed at 15.22 pesos in Manila, 9.4% lower than its IPO price of 16.80 pesos, after dropping to as low as 14.92 pesos earlier in Monday’s session. All materials on this website are protected by copyright and intellectual property laws and are the property of The Philippine Stock Exchange, Inc. Speaking to ABS-CBN News Channel early on Monday, Uy justified the valuation of Converge, saying the company is in a “high-growth” industry when work-from-home arrangements are fueling demand for reliable internet service. That said, Converge operations are so far limited to 730,000 homes in Luzon, with some proceeds from the IPO allocated to expand services to cover the entire archipelago. In June, MerryMart Consumer Corp., a grocery operator, raised P1.6 billion through an IPO, while Ayala-led AREIT Inc., the first local real estate investment trust, got P13.6 billion last August. “Compared to Globe and PLDT, Converge is trading at a significantly higher P/E (price-to-earnings) multiple,” Agravio said in a Viber message. The Philippine Stock Exchange trades at 20.85 this year’s earnings. It includes all listed companies in the Philippines. Internet service provider Converge ICT Solutions joined the main board of the Philippine Stock Index on Monday, but its share price dropped by almost a … On October 26, 2020, first trading day of Converge (CNVRG) in the PSE, the stock price plunged after the opening bell and closed 9.4% down from its IPO price to close at P15.22 per share. With your meaningful insights, help shape the stories that can shape the country. Stock Symbol Board Listing Date Offer Price Offer Shares Offer Amount Prospectus; Converge Information and Communications Technology Solutions, Inc. CNVRG: Oct 26, 2020-AREIT, Inc. AREIT: Aug 13, 2020-Altus Property Ventures, Inc. APVI: Jun 26, … High demand seen as Converge lowers IPO price to P16.8 per share, 6 Filipina executives who keep the Araneta legacy alive. View the latest Converge Information & Communications Technology Solutions Inc. (CNVRG) stock price, news, historical charts, analyst ratings and financial information from WSJ. 52 Week High: P21.20. Find the latest CONVERGE TECHNOLOGY SOLUTIONS C (CTSDF) stock quote, history, news and other vital information to help you with your stock trading and investing. FIXED broadband provider Converge Information and Communications Technology Solutions Inc. (Converge ICT) ended its trading debut at the Philippine Stock Exchange (PSE) Monday, Oct. 26, 2020, as the second worst loser. Index ends higher on lighter selling pressure. Prices touched an intraday low of P14.92. “Nonetheless, long-term, Converge’s share price will be backed by improving fundamentals. “A bounce-back is highly dependent on prevailing market conditions as well, so it could very well happen should investor sentiment continue to be bullish,” she added. LIST: 5 women who inspire and empower other women online and in the real world, Is it time for a family TV upgrade? Dive deeper with interactive charts and top stories of Converge Information & Communications Technology Solutions Inc. The firm, officially known as Converge Information and Communications Technology Solutions, Inc., will be offering some 1.5 billion shares capped at … Investors also appear to be largely betting for a recovery in the long run with values traded amounting to P3.69 billion, the most for any stock in the day. The offer period will run from October 12 to 16. Will it be you? While the stock market has recovered some ground from a dive during lockdowns, especially last week, PSEi remained down 16.9% from last trading day of 2019. To further demonstrate the risk of listing during hard times, Converge was only the third firm to go public this year. Yet I will rejoice in the LORD, I will be joyful in God my Savior. Price (PhP) 15. Philstar Global Corp. All Rights Reserved. How has Converge Information and Communications Technology Solutions's share price performed over time and what events caused price changes? However, the stock was not met with as much enthusiasm with its …

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