Asticom Group of Companies, a subsidiary of Globe Telecom Inc., plans to go public to expand its operations and grow its portfolio, its president said on Wednesday.
During an online roundtable discussion, Asticom President Mharicar Castillo-Reyes said the group plans to list on the stock exchange within “five years” as part of its “growth strategy in order for us to continue growing our portfolio.”
This optimism, she said, comes on the back of its stellar performance in 2021, when the group’s revenues hit the P2-billion mark.
This year, Reyes said, the group plans to “double” this figure, given the “aggressive requirements for us to support the telco and tech industries.”
She added that the group also plans to allot between 10 percent and 15 percent of its total profits for capital expenditures this year to grow its suite of solutions.
“We continuously seek ways to pave long-term growth for the group. With our strategies and plans in place, we aspire to see greater growth for the Asticom Group of Companies, but most especially for the people and clients we’re serving. We also aspire that through realizing these goals, we can support many more Filipino businesses in their growth and improve more Filipino lives,” Reyes said.
Asticom Group of Companies is a shared services company that was launched in 2015. Last year, it gave birth to four subsidiaries, namely: Asti Business Services Inc. (ABSI), Fiber Infrastructure and Network Services Inc. (FINSI), BRAD Warehouse and Logistics Services Inc. (BRAD), and HCX Technology Partners Inc.
ABSI is a business process company that offers IT and business solutions as well as back-end and project management support to its clients. It acquired HCX Technology Partners Inc. from the Ayala Corp. last year, adding HR and Digital Solutions to its business services offering.
FINSI offers end-to-end engineering solutions for businesses in the telecommunications, infrastructure, and technology industries.
Meanwhile, BRAD is an on-demand logistics solutions provider that caters to the needs of small, medium and large enterprises in the country. It aims to be the nation’s most advanced, efficient, and impactful tech-enabled logistics solutions provider.