GCash to proceed with IPO ‘when ready’

MANILA, Philippines — E-wallet giant GCash said its parent Globe Fintech Innovations Inc. (Mynt) would proceed with its planned initial public offering (IPO) “when ready.”

“We’ve seen the growing public interest in a potential IPO and we appreciate the support and confidence in Mynt,” GCash said in a statement.

The company said that no official decision has been made regarding the timing of its IPO.

“Rest assured, any developments will be disclosed in accordance with Philippine Stock Exchange (PSE) regulations,” the company said.

“Right now, our focus remains on delivering real impact, helping more Filipinos access safe, secure and inclusive financial services. As we continue to scale, we’re taking the time to prepare responsibly and thoughtfully for the future,” it said.

The popularity of GCash and the potential size of its IPO make it among the most anticipated listings in the PSE.

The company has been waiting for the best timing before it proceeds with the filing of what could be the largest IPO in the country.

“There are currently no definitive IPO plans, but we are working hard to ensure we’re ready when the time is right,” GCash said.

The company was previously considering to launch its maiden share sale by end-2025.

In a recent interview with The STAR, GCash president and CEO Martha Sazon said the company’s IPO would probably not take place anymore this year.

“We don’t know when, but definitely we’re considering it,” she said.

GCash’s mobile wallet operations are handled by G-Xchange Inc., a wholly owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines.