GCash has reportedly moved its anticipated initial public offering (IPO) to the latter half of 2026. In essence, sources familiar with the matter told Bloomberg that the company had initially considered a listing as early as 2024 but has since adjusted its schedule in the context of a market slowdown.
The fintech is aiming to raise between USD 1 billion and USD 1.5 billion through the offering, which could make it the largest IPO in the Philippines to date. The current record belongs to Monde Nissin, which raised slightly over USD 1 billion when it went public in 2021.
Market difficulties influence listing plans
The decision to delay follows a period of weaker performance on the Philippine Stock Exchange, where the benchmark index has fallen by about 17% over the past year. The market downturn has dampened investor appetite and led several local companies to reconsider their own listing timetables.
GCash is operated by Globe Fintech Innovations, more commonly known as Mynt. Representatives from Mynt said that while an IPO remains part of the company’s long-term strategy, no definitive timeline has been agreed upon. They noted that discussions about market timing and valuation are ongoing.
The firm has become one of the most widely used financial technology platforms in the country, offering services such as digital payments, mobile money transfers, and other financial products. GCash reports a user base of around 94 million, reflecting its position as an important player in the Philippines’ digital finance sector.
In September 2025, GCash launched a next-gen contactless solution, offering security, convenience, and global reach for businesses. Powered by Near Field Communications (NFC) technology, the Tap to Pay solution enabled payments through ewallets at over 150 million Mastercard acceptance locations worldwide, thanks to the collaboration between Mastercard and Alipay+.
