Globe subsidiary Asticom plans IPO
GLOBE Telecom, Inc.’s wholly owned Asticom Technology, Inc., a shared services company, said on Wednesday that it plans to go public in five years.
“It is part of our five-year plan to go public, to have that IPO (initial public offering). So yes, that is part of the growth strategy of the Asticom Group of Companies in order for us to continue growing the portfolio of services,” Asticom President and Chief Executive Officer Mharicar Castillo-Reyes said during a virtual press briefing.
She also said the group will soon launch a staffing and platform company that will “revolutionize the staffing solution industry.”
Asticom has formed various subsidiaries, including Asti Business Services, Inc. (ABSI), Fiber Infrastructure and Network Services, Inc. (FINSI), BRAD Warehouse and Logistics Services, and HCX Technology Partners, Inc.
Created in 2021, ABSI serves as Asticom’s business process solutions arm.
FINSI, which was also created in 2021, offers end-to-end services and industry-specific solutions to telecommunications, tower, infrastructure, and technology, including construction, building, installation, and maintenance services.
BRAD is an end-to-end supply chain technology solutions provider. Its services are tailor-fit for different industries, including e-commerce, food and beverage, health and wellness, and telecommunications.
Meanwhile, HCX is a provider of human resources, customer relationship management, and digital solutions.
The group announced in January that it had reached P2 billion in revenues as of the fourth quarter of 2021.
Globe Telecom shares closed 0.84% higher at P2,408 apiece on Wednesday. — Arjay L. Balinbin
