Philippine fintech firm GCash is said to plan an IPO in Manila, as it aims to raise between US$1 billion and US$1.5 billion.

The IPO is tentatively expected in the second half of 2025, though details remain flexible.

If realized, this could become the largest IPO in Philippine history, exceeding Monde Nissin Corp.’s US$1 billion offering in 2021.

GCash, owned by Globe Fintech Innovations Inc., known as Mynt, has not issued an official statement regarding the potential IPO.

In a May interview, Mynt’s chairman, Ernest Cu, hinted at a possible 2025 public listing, emphasizing a desire to proceed once conditions are favorable.

GCash provides financial services, including money transfers and bill payments. It reached a US$5 billion valuation in August, following Mitsubishi UFJ Financial Group acquiring an 8% stake.

Recent GCash developments