BlackRock, Capital Group set to back GCash owner IPO
BlackRock, Capital Group, Schroders, and IFC are expected to take up 70% of the sale.
The upcoming initial public offering of GCash's parent company, Mynt Inc., is expected to be a significant economic catalyst in the Philippines. SEC Chairman Francis Lim expressed hope that the IPO will boost the country's capital market, while PSE President Ramon Monzon sees it as a means to increase retail investment and trading activity, especially with subscriptions accessible via GCash's stock-trading platform, GStocks.
Trade Secretary Ma. Cristina Roque added that the greater use of GCash and digital payment platforms could help micro, small and medium enterprises (MSMEs) expand their market reach, particularly through e-commerce. Mynt Inc.'s IPO, which could be the largest in Philippine history, is set to take place from October 6-12 with a tentative listing on October 20. The final offer price will be determined during a book-building process.
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.
This story
This is one outlet's version. Read the fullest account.
- GCash IPO tipped to energize capital market philstar.com
