Converge joining FTSE Global Equity Index

MANILA, Philippines — Converge ICT Solutions Inc. is set to join the Financial Times Stock Exchange (FTSE) Global Equity Index this month following the global financial benchmark provider’s semi-annual review.

The index inclusion will take effect   on Sept. 17.

Converge said it is the only Philippine company to be added to the small cap index of the FTSE Global Equity Index Series in its most recent review.

“We’re pleased to be included in this roster of valuable and viable securities in the region. This will lead to more exposure to passive and active investors, and for them, a more diversified portfolio in a promising industry in this region” Converge chief executive officer and co-founder Dennis Anthony Uy said.

“This inclusion is further testament of our growth and standing in the Philippines telecommunications industry,” Converge president and co-founder Grace Uy said.

Converge said securities are included in the Global Equity Index Series after passing the criteria on minimum voting rights, investability weight, liquidity and trading history set by the FTSE.

It is then classified by investability market capitalization by region, to determine if they belong to the large, mid, small, or micro-cap index.

The  Global Equity Index Series was created by the FTSE to be used as benchmarks for investment funds, exchange traded funds and other financial products.

The GEIS-Global Small Cap Index is comprised of more than 5,000 constituents worldwide as of July.

Converge early this year also joined two other FTSE Index Series, the Renaissance IPO Index and the ASEAN All-Share Index, increasing the company’s exposure to passive and active investor.