Largest Philippine fintech company GCash said to pick banks for IPO

0
10KB

GCash, the largest fintech platform in the Philippines, has picked banks to work on an initial public offering (IPO) that could take place this year, Bloomberg reported on Thursday, quoting people familiar with the matter.

GCash has selected JPMorgan Chase & Co, Morgan Stanley and UBS Group AG to work on the potential share sale, the people reportedly said. Other banks that may also help to arrange a deal include HSBC Holdings Plc and Jefferies Financial Group Inc, the people added.

Considerations are ongoing and no final decisions have been made, the people said, adding that more banks could be added for the IPO, the report said.

Representatives for the banks declined to comment. GCash, which is controlled by Globe Fintech Innovations Inc, or Mynt, said it had nothing to disclose at the moment.

Bloomberg reported in November that GCash had invited banks to pitch for a role in an IPO in Manila to raise $1 billion to $1.5 billion, possibly in the second half of 2025.

GCash’s app can be used for services such as paying bills and sending and receiving money throughout the Philippines, according to the company’s website, which says 94 million Filipinos have used GCash.

According to Bloomberg, last year, Mitsubishi Corp bought a 50 percent stake in AC Ventures Holding Corp, which owns 13 percent of Globe Fintech.

This was followed Mitsubishi UFJ Financial Group Inc acquiring an 8 percent stake in GCash in August, in a transaction that lifted the valuation of the company to US$5 billion. Jack Ma’s Ant Group is another backer, the report added.

 

#GCashIPO #FintechInnovation #PhilippinesFinance #InvestmentOpportunities #DigitalEconomy

Patrocinado
Pesquisar
Patrocinado
Categorias
Leia mais
Networking
Hong Kong’s ZA Bank appoints Calvin Ng as new CEO
Hong Kong digital bank ZA Bank has on Monday announced the appointment of Calvin Ng as its new...
Por Ifvex 2025-04-01 06:36:26 0 7KB
Networking
Klook secures $100M in funding led by Vitruvian Partners
Klook, a Hong Kong-based platform for experiences and travel services, has on Tuesday announced...
Por Ifvex 2025-02-12 11:22:51 0 8KB
Networking
Google Cloud appoints Hana Raja as Country Manager for Malaysia
Google Cloud has on Monday announced the appointment of Hana Raja as Country Manager of Google...
Por Ifvex 2025-04-08 06:24:12 0 6KB
Outro
Hong Kong’s ESR commences development of $1B final phase of logistics park in Japan’s Kawanishi with inaugural domestic fund closing
ESR Group Limited, a Hong Kong-based real asset owner and manager, has broken ground on ESR...
Por Ifvex 2025-04-09 14:37:00 0 7KB
Networking
Bukalapak’s revenue grows 12% quarter-on-quarter in 2Q
Indonesian e-commerce company Bukalapak announced Wednesday that its revenue for the second...
Por Ifvex 2025-07-31 13:01:55 0 1KB
Ifvex https://ifvex.com