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In focus
- Struggling Peso, lagging stock market dampen GCash’s IPO hopes
- After 46% revenue bump, Igloo eyes global expansion
- Granite Asia launches US$50 million fund for logistics players
Hello reader,
When my dog welcomed his second birthday, he gave me a surprise: The right side of his heart is apparently larger than the left.
Three vet visits later, he’s fine, but I’ll have to bring him back once a year to have it checked. Those visits gave my wallet a big fright, as they were not cheap.
The experience led me to look for pet insurance. Turns out, e-wallet GCash offers it. After filling out an online form on the app, I was able to send an application 15 minutes later. In less than a day, I got it approved, and the insurance is definitely cheaper than vet visits.
Since 2021, GCash has transformed from a simple e-wallet to a super app that offers stock and bond investing, quick consumer loans, and insurance policies. Part of the firm’s hopes for future growth are pinned on its foray into credit and wealthtech ahead of its market debut on October 20.
While it is expected to be the Philippines’ largest IPO, raising about US$845 million, GCash set its share price at a 30% discount from the maximum it chose when it released its prospectus.
Analysts told me that the firm had to recalibrate its share price to reflect tougher macroeconomic conditions.
Meanwhile, things are looking more positive for GCash’s insurance partner, Igloo. The Singapore-based firm ended 2025 with a 60% year-on-year drop in its net loss, and its CEO told Tech in Asia that the good news is set to continue as 2026 draws to a close.
Elyssa Lopez, journalist
Top Stories
1️⃣ GCash trims IPO ambitions to meet market realities
Digital collage by Ulla, photo courtesy of GCash
Even if GCash parent firm Mynt set its debut share price lower than its projected range, analysts remain divided on whether 6.60 pesos (US$0.11) is fair.
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