Fintech titans GCash and Maya test IPO goals as Philippine market thins
The profitable rivals backed by Globe Telecom and PLDT are taking different routes to market
Add BT as a preferred source
[MANILA] The Philippines’ home-grown tech giants GCash and Maya are moving towards billion-dollar public debuts from positions of strength – profitability and deep-pocketed backers.
Yet, their listing strategies expose a local stock market so thinly traded that one analyst warns that it risks failing to absorb its own tech champions.
Market leader GCash, wholly owned by tech incubator Mynt, is reportedly aiming for a landmark initial public offering on the Philippine Stock Exchange (PSE) in the second half of this year, after having sat out the market since 2025 to fetch a premium valuation.
TRENDING NOW
Asia-Pacific aviation: is up really the only way?
Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies
Why disciplined stewardship matters when managing wealth in uncertain markets
More than 15,000 sign up for national accounting body’s AI programme in two months
