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Warburg-Backed Converge ICT Picks Banks for $700 Million IPO

  • BPI, BDO Unibank, Morgan Stanley and UBS are on the deal
  • Converge ICT’s IPO could be the biggest in the Philippines

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.

Bank of the Philippine Islands, BDO Unibank Inc., Morgan Stanley and UBS Group AG are working with Converge ICT on the share sale, said the people, who asked not to be named as the information is private. A listing by the Warburg Pincus-backed company could take place as early as this year, the people said.