Largest Philippine fintech company GCash said to pick banks for IPO

0
3KB

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
CVC Funds agree sale of OANDA to FTMO
CVC Asia Fund IV, via its holding limited partnership, has entered into an agreement for the sale...
Por Ifvex 2025-02-06 05:23:41 0 2KB
Food
Apples, Pecans and Dried Cranberries
If you're not into boiled Brussels Sprouts, this recipe for Shaved Brussels Sprouts with apples,...
Por Recipes 2025-02-05 15:26:44 0 3KB
Shopping
Nokia Zenjutsu Mini vs. Realme 14x: 200MP Cameras, 12500mAh Battery!
The battle lines are drawn between the Nokia Zenjutsu Mini vs. Realme 14x, both designed for...
Por Ifvex 2025-02-07 23:12:22 0 3KB
Food
Grilled Steak Salad
This grilled skirt steak salad is a delicious combination of grilled vegetables, fresh greens,...
Por Recipes 2025-02-06 14:02:37 0 3KB
Outro
Điện thoại Realme Note 60x 3GB/64GB 2.390.000₫
realme Note 60x ghi dấu ấn với thiết kế vuông vức đầy mạnh mẽ, đi kèm các...
Por Ifvex 2025-03-31 05:00:51 0 861