CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Oct 2, 2023
2. SEC Identification Number
CS200716094
3. BIR Tax Identification No.
006-895-049-000
4. Exact name of issuer as specified in its charter
Converge Information and Communications Technology Solutions, Inc.
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
New Street Building, Mc Arthur Highway, Balibago, Angeles City, PampangaPostal Code2009
8. Issuer's telephone number, including area code
(02) 8667-0888
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares
7,266,573,061
Fixed Rate Bonds
10,000,000,000
11. Indicate the item numbers reported herein
Item 9. Other events
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Converge Information and Communications Technology Solutions, Inc.CNVRG
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
Converge hits 2M residential subscribers
Background/Description of the Disclosure
Converge ICT Solutions Inc. has surpassed two million residential subscribers as of end-September 2023, with its prepaid segment seeing a significant upswing, alongside the stable growth in its postpaid customers.
The fiber broadband provider has recently expanded its reach to the mass market, offering a prepaid fiber internet product and a low-cost postpaid plan.
Converge introduced its pioneering prepaid product Surf2Sawa (S2S), which has been attracting budget-conscious customers since its launch, evident with the 77 percent growth, or over 25,000 net additions it registered in the second quarter of the year versus the previous quarter.
Its postpaid subscribers sustained its steady growth as the newly-introduced low-cost postpaid plan BIDA Fiber complemented the company’s core product, FiberX, which starts at P1,500 a month with a speed of 200 Mbps. Meanwhile, BIDA Fiber costs P888 per month with a speed of 35 Mbps to connect a maximum of six devices. All three products (FiberX, BIDA, and S2S) offer unlimited data consumption.