GCash, the Philippines’ leading e-wallet, said a growing number of Filipinos are investing through online platforms, led by strong demand for the recently concluded initial public offering (IPO) of Maynilad Water Services Inc. and the preferred shares offering (FOO) of Megawide Construction Corp.
Investors subscribed to more than P50 million across the two inaugural offerings, which were launched in October through the e-wallet’s new subscription feature on GStocks PH, a service offered by broker AB Capital Securities Inc.
“These recent milestones show Filipinos are increasingly enthusiastic about exploring investment opportunities when provided the proper tools and access,” said Winsley Bangit, group head of new businesses at Mynt, GCash’s parent company.
“The encouraging response to the Maynilad IPO and Megawide FOO on our platform demonstrates that being able to invest and plan for a brighter future is no longer limited to a few,” said Bangit.
The introduction of IPO and FOO subscriptions on the platform provides listed companies with a new channel for growth while expanding access for individual investors.
“By bringing share issuances to a digital platform like GStocks PH, we’re driving greater retail participation and expanding the online investment experience for more Filipinos,” said Hazel Tanedo Tan, president of AB Capital Securities Inc.
