Cloud computing provider IP Converge Data Center revealed in a disclosure on Tuesday, May 29, that it has sold its interest in its wholly-owned subsidiary, IP Converge Data Services Inc. IP Converge, which uses the ticker “cloud” in the Philippine Stock Exchange (PSE), disposed of its shares to its parent company IP Ventures Inc. (IPVI) for a total consideration of P221 million.

The disposal of the shares prompted IP Converge to ask the PSE to suspend the trading of its shares on Tuesday to “give the public sufficient time to digest the disclosure.

Source: News Bytes