GCash, the Philippine mobile wallet and digital payments platform, has hired, according to people familiar with the matter cited by Reuters on 10 January 2025, global investment banks to arrange an initial public offering on the Philippine Stock Exchange. The prospective listing could raise up to $1.5 billion.
GCash is owned by Mynt, the fintech holding company whose shareholders include Globe Telecom, Ant Group, Ayala Corporation and MUFG. Mynt was valued at $5 billion following an investment by MUFG and Ayala in August 2024.
PSE LISTING
The listing would be on the Philippine Stock Exchange only, while the offering was also expected to be marketed to foreign investors.
TIMING
The bank mandates were reported on 9–10 January 2025; neither GCash nor Globe Telecom officially confirmed the plans, and sources pointed to a listing in the second half of 2025 or in 2026; the timing of any actual share sale remains subject to prevailing market conditions, the completion of regulatory approvals, and the bank syndicate's assessment of investor demand.