PH broadband services player Converge ICT picks banks for $700m IPO

PH broadband services player Converge ICT picks banks for $700m IPO

FILE PHOTO: A trader walks past the electronic board of the Philippine Stock Exchange in Makati city, Metro Manila, Philippines June 27, 2016. REUTERS/Romeo Ranoco

Converge ICT Solutions Inc., a fiber-optic broadband services provider in the Philippines, has selected banks for its planned domestic initial public offering that could raise about $700 million, according to people familiar with the matter.