GCash IPO May Be Moved to Next Year, Says Monzon

The highly anticipated initial public offering (IPO) of e-wallet giant GCash could potentially be pushed back to next year following the delay in the IPO of Maynilad Water Services Inc., according to Philippine Stock Exchange (PSE) president and CEO Ramon Monzon.

- — Richmond Mercurio

"The problem there is when Maynilad got delayed, that will probably have an impact also on the GCash IPO because of course, both are big. So we were hoping that Maynilad gets done by July, and then by October or November, there will be plenty of funds in the market for GCash. But Maynilad was postponed to October," Monzon said.

"I don't know, I'm just speculating, but GCash might be moved again (to next year)," he said.

GCash has been preparing and waiting for the best timing before it proceeds with the filing of an IPO.