InfiniVAN eyes P3-B IPO by end-’25 or early ’26
In the midst of a volatile stock market still awaiting the debut of large firms, internet service provider InfiniVAN Inc. is looking to raise as much as P3 billion from an initial public offering (IPO) by the end of this year or early 2026 as it seeks to expand its client base in the Philippines.
Eduardo Francisco, president of BDO Capital and Investment Corp., told reporters last week that the Japan-backed company was “big” in terms of revenue, especially since most of its clients were businesses.
“They’re a small company but they’re doing very well. They’re very niche,” Francisco said.
He added that InfiniVAN was eyeing to raise P2 billion to P3 billion from an IPO, entailing a market capitalization of at least P10 billion.
Although it also provides internet services for homes, InfiniVAN is primarily a business-to-business company.
According to its website, its plans start at 30 Megabits per second (Mbps) for small- and medium-sized enterprises. It offers up to 100 Mbps under its “Infini Plan” for bigger businesses.
InfiniVAN also said it was backed by an investment group composed of Philippines-based holding firm Corporate One and Japan-based telecommunications carrier IPS Inc., which is listed on the Tokyo Stock Exchange.
InfiniVAN is one of the companies that have expressed interest in launching an IPO this year, apart from Top Line Development Corp. and big names like Ayala-backed e-wallet platform GCash and water concessionaire Maynilad Water Services Inc.
Francisco pointed out that some companies may be hesitant to list on the local bourse due to current volatile conditions.
