In a letter to the Exchange dated October 5, 2020 in relation to its proposed initial public offering of up to 1,731,064,536 shares, Converge Information and Communications Technology Solutions, Inc. (“CNVRG” or the “Company”) has amended its offer terms and timetable as follows:
A. Maximum Offer Price
“The maximum offer price for the IPO has now been tightened to up to Nineteen Pesos (Php19.00) per common share, taking into consideration the results of market sounding and preliminary book building of the Joint Global Coordinators and Joint Bookrunners as well as the adjustment in the offer size in light of the minimum public ownership requirement. The final offer price will be determined in the evening of Thursday (8 October 2020) and the final prospectus with all adjustments will be submitted the day after.”
B. Timetable of Activities
The pricing date has been moved from October 9, 2020 to October 8, 2020 and Offer Period will be from October 12 to October 16, 2020, with target listing date of October 26, 2020 instead of the originally disclosed listing date of October 27, 2020.
The Exchange will advise the investing public of further developments on the Company’s offer.
For your information and guidance. |