GCash Chief Unsure on IPO Plan This Year

E-wallet giant GCash is unlikely to cash in on the opportunity to go public this year.

- By Richmond Mercurio

GCash president and CEO Martha Sazon told The STAR that the company's highly anticipated initial public offering (IPO) would probably not take place anymore this year.

"We don't know when, but definitely we're considering it," she said in an interview.

GCash continues to wait for the best timing before it proceeds with the filing of what could be the largest IPO in the country.

The company was previously considering launching its maiden share sale by end-2025.

It has also earlier expressed its intent to request from regulators an exemption from the 20-percent public float requirement for IPOs.

Last March, the Securities and Exchange Commission said that it has allowed, by way of exemptive relief, a lower initial public float of 15 percent, subject to strict criteria, following thorough discussions with the Philippine Stock Exchange (PSE).

The exemption is intended to make it easier for companies to decide on holding an IPO.

In an earlier report by