OMERS, Warburg Pincus invest in Philippines fiber network operator

27 October 2020 - 12:00 am UTC

International investors including Canada’s Ontario Municipal Employees Retirement System (OMERS), Warburg Pincus and Macquarie have participated in the IPO of Philippines broadband provider Converge ICT Solutions.

The company raised approximately PHP 29.1bn (USD 602m) from its listing on the Philippines stock exchange, with over 80% of the investment coming from blue-chip long-term institutional investors, according to a statement yesterday. Investment managers Genesis and Thornburg were also flagged as investors.

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