Converge ICT Solutions Inc. said Monday it reduced the maximum offer price for its initial public offering by 21 percent to P19 per share to raise P32.87 billion in proceeds.
The final price will be announced on Oct. 9, while the offer period for 1.73 billion shares will be from Oct. 13 to 19.
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The latest prospectus uploaded by the company on its website showed that the IPO attracted several foreign funds as cornerstone investors.
Among them are Canadian pension fund OMERS Administration Corp. and US-based fund Thornburg Investment Management Inc., Genesis Investment Management LLP, Ghisallo Master Fund LP, Macquarie Funds Management Hong Kong Limite, Magna New Frontiers Fund and Segantii Asia-Pacific Equity Multi-Strategy Fund.
