Fiber internet provider Converge ICT Solutions Inc. yesterday said it has been included in the global benchmark Financial Times Stock Exchange (FTSE) ASEAN Stars Index, comprised of the top 30 companies in the exchanges of six countries in Southeast Asia, namely, Indonesia, Malaysia, Singapore, Thailand, Vietnam and the Philippines.
The inclusion of Converge to this new index was made as the weights of company stocks across all FTSE indices increased from August to September this year.
“We are pleased to see an improvement in the weights of Converge stocks across all FTSE indices as it reflects the continued strong growth of the company amid our fiber roll-out nationwide,” said Maria Grace Uy, Converge president.
According to the FTSE Russell website, the ASEAN Stars Index is intended to serve as a barometer and should not be used as the basis for investment products.
Converge shares rose to a new all-time high of P42 per share at the close of trade Tuesday, with its market capitalization now reaching over P300 billion. – Myla Iglesias
