Ionics Rises After Saying It Developed a Device for Verizon

Ionics Inc. climbed the most in two weeks in Manila trading after the company said a unit developed a so-called “4G LTE service gateway” device for Verizon Wireless.

The stock advanced 4 percent to 1.30 pesos as of 11:02 a.m. local time, set for the steepest advance since Dec. 28. The benchmark Philippine Stock Exchange Index decreased 2.1 percent.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Garry Smith at gsmith34@bloomberg.net

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