Uy and his partners in fast-growing fixed broadband services provider Converge Information and Communications Technology Solutions Inc. just raised P25.3 billion after pulling off the biggest initial public offering in four years.
The IPO, which was well received by international and domestic investors despite the backdrop of market volatility and uncertainty, is the bedrock of Uy’s ambitious strategy to develop a “digital transformation highway” in Luzon and capture a third of the country’s 22 million households.
Last Friday, the 54-year old Uy celebrated another important milestone in his life. He launched his book “Our Dennis Anthony H. Uy, Angeles City’s Own Mogul”, which shares personal stories of his journey to the top.
Uy’s siblings described him as persevering, industrious and smart. As a kid, he worked in a supermarket and even sold Betamax and VHS tapes.
As he grew older, Dennis entered the cable business through Angeles City Cable Television Network, the first in Pampanga.
Former Angeles City Mayor Eduardo Pamintuan thought Uy’s business idea was downright crazy given that the lahar ruined all of the bridges and damaged communication structures in the province.
“I’m gonna do something that the people here will patronize later on”, Pamintuan recalled Uy as saying.
“Behind Dennis Uy as an entrepreneur, many are not aware that even before he started his business, he has a genuine love for people, for humanity,” Pamintuan said.
Dennis later on ventured into broadband and fiber optics with ComClark Network and Technology Corp., which has now grown into Converge.
With the $250 million investment from US-based Warburg Pincus, one of the world’s biggest private equity funds, Converge has steadily expanded its reach to become one of the fastest growing internet providers today.
Dennis recently received the Entrepreneur of the Year Award at the 11th Asia CEO Awards while Converge bagged the Circle of Excellence Technology Company of the Year award.
Converge prides itself as the country’s first pure end-to-end fiber internet network in the country, providing Filipinos fast and premium internet connection.