Converge ICT Solutions Inc., the fastest growing broadband operator in the Philippines, joined hands with the Securities and Exchange Commission in encouraging small-scale businesses and start-ups to access the capital market to address their financing needs.
Converge vice president Owen Kieffer Ocampo shares of how the capital market helped Converge raise funds. “A lot of work goes into conducting the IPO but the long-term benefits definitely compensate for it. First, you will have access to lower cost of capital, and you will have the capability to accelerate growth with the funding generated in your IPO,” he said.
More significantly, Converge became a nationwide company – extending its fiber backbone from Luzon to major islands in Visayas and Mindanao – through the major capital infusion provided by the IPO.
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