Warburg-backed Converge ICT prices PH IPO, trims target to $600m

Warburg-backed Converge ICT prices PH IPO, trims target to $600m

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, a Warburg Pincus-backed fibre-optic broadband services in the Philippines, has trimmed its initial public offering (IPO) target to about $600 million after pricing its shares at 16.80 pesos ($0.35) each, according to its filing Friday.