Internet provider InfiniVAN gears up for IPO

MANILA, Philippines — Internet service provider InfiniVAN Inc. is setting its sights on becoming a publicly listed company to speed up its growth.

BDO Capital & Investment Corp. president Eduardo Francisco said InfiniVAN is looking to raise between P2 billion and P3 billion from a planned initial public offering (IPO).

“We’re trying to do an IPO. We’re not sure if we can do it this year or next year,” Francisco said.

“But at the way it’s going, we’re looking at the end of this year and then backup is early next year,” he said.

InfiniVAN is a Japan-affiliated digital solutions and telecommunications firm in the Philippines.

The company is an internet service provider specializing in high-grade fiber optic internet.

By catering to the unique needs of enterprises and industries, it aims to empower businesses through reliable and innovative connectivity solutions.

“They have a good business model and there’s still more money to be made,” Francisco said.

“Sometimes if you’re a corporate, you have a priority broadband provider and then you have a backup. So in that case, they are a very good backup. In some cases for some smaller companies, they are the primary (provider),” he said.

InfiniVAN recently partnered with the Cebu City government for the development of a  fiber loop infrastructure which will deliver high-speed internet connectivity across public institutions and key areas of Cebu City.

For this year, the Philippine Stock Exchange is looking at a total of six IPOs, double from last year’s three.

The IPO of Top Line Business Development Corp., which was supposed to be the fourth and last IPO for 2024, is slated to be the first this year, with the company planning to list on April 8.