Philippines Globe Telecom to Raise Funds, Expand (The Asset)

  • Globe Telecom is planning to raise up to 32 billion pesos (US$593 million) through a stock rights offering to fund the expansion of its mobile and broadband network as well as to repay debt.
  • Globe has seen data traffic in its network grow significantly, with the first quarter of 2022 reporting a 27% increase against the same period last year. This growth was driven by the increased smartphone penetration in the network, which rose from 81% in 2020 to 85% in 2021 and led to a higher per person data usage of 22%. READ MORE

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