Eduardo Francisco, president of BDO Capital & Investment Corp., said they were working to bring InfiniVan to public hands by late 2025 or early 2026.
“They’re [relatively] small but doing very well,” Francisco told reporters.
The chief of the country’s leading investment bank said the IPO size was also ideal since it could be supported by domestic investors amid the volatility in international markets.
Who is InfiniVan?
The company's main office is in the Ore Central Building in Bonifacio Global City. It is backed by Tokyo-listed IPS Inc., which also owns Shinagawa Lasik and Aesthetics, a chain of eye care and anti-aging clinics.
InfiniVan is part owner of the P8.6 billion Philippine Domestic Submarine Cable Network, which was activated in 2023 and allowed the company to expand high-speed fiber internet services to new markets in Visayas and Mindanao.
It is led by Shigeki Nakahara, who is also a board member of IPS.
InfiniVan is growing fast
In a recent regulatory filing in Japan, IPS said the Philippine internet provider had 1,436 corporate customers at the end of 2024.
It plans to grow customers by over 200 percent to 4,500 clients by 2026. By 2028, it plans to capture 6,500 customers.
Last year, it recorded net revenues of about P3 billion, more than double the previous year, and segment profit of P1.14 billion, up 347 percent.
To boost growth, the company is targeting small internet providers and cable TV operators to increase its presence in businesses in provincial areas.
Industrial centers
Another major growth driver is providing internet to industrial centers.
It already sealed a partnership with the Cavite Economic Zone and formalized a similar agreement for Laguna Technopark, managed by Ayala Land’s AyalaLand Logistics Holdings Corp.
Last January, it also secured the go-signal to provide internet services for the Cebu government’s Smart City project.
What’s next?
The group is positioning for the artificial intelligence wave by building AI-ready data centers and cable landing stations, although it was not immediately clear if InfiniVan or IPS will be handling this segment.
“Amidst the US-China tensions, there is an expectation for increased cable landings in the Philippines,” the company said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
