GCash IPO green light seen as major boost for MSMEs
The Trade and Industry department said the initial public offering of GCash’s parent company, which has now been cleared by the Philippine Stock Exchange (PSE), could further help micro, small and medium enterprises (MSMEs) expand their market reach and advance their entrepreneurial journey.
The Philippine Stock Exchange recently approved the listing of GCash's parent company, Mynt, opening the door for an initial public offering (IPO). This development is seen by the Trade and Industry department as a significant opportunity for micro, small and medium enterprises (MSMEs) to expand their market reach and grow their businesses.
By making digital payments more accessible, particularly for those in remote areas, the IPO is expected to facilitate easier transactions for MSMEs. Trade Secretary Cristina Roque emphasized the importance of promoting digital payments, especially in light of the upcoming Digital Economy Framework Agreement (DEFA) that will streamline cross-border payments and digital trade within ASEAN.
The PSE approved Mynt's application to issue up to 8.03 billion primary and secondary shares, with an option for additional 1.20 billion shares. The offering will take place from October 6 to 12, with the final price to be determined through a book-building process on October 1. If successful, the IPO could become the largest public offering in PSE history and attract a diverse range of investors, both retail and institutional.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
