Gcash eyes tentative Oct. 19 IPO debut

CEBU CITY, Philippines — Philippine fintech firm GCash is eyeing an October debut at the Philippine Stock Exchange (PSE), stakeholders from Globe Telecom recently announced.

During a virtual media briefing for its second quarter earnings report, executives from Globe Telecom revealed that Mynt, the parent company of Gcash, plans to go public this October 19.

“In the draft preliminary prospectus that Mynt submitted, it was disclosed that the listing is expected on October 19, 2026,” Carlo Puno, Globe’s chief financial officer, told reporters.

READ: Maya targets 2027 IPO debut on PSE

But Puno emphasized that the date remains tentative.

“However, this remains subject to approvals by the PSE, the Philippine SEC, and other market considerations. The timetable may still change,” he added.

Globe Telecom holds a 33.84 percent ownership stake in Mynt, making it the largest single stakeholder.

Cell-to-satellite, data centers

Meanwhile, the Ayala-led telecommunications company reported a successful rollout of its cell-to-satellite service in partnership with Starlink by tycoon Elon Musk.

The company marked the first use of Starlink’s satellite‑to‑mobile technology for disaster and emergency response in South Cotabato, Sultan Kudarat, and Sarangani following a magnitude 7.8 earthquake.

“So far, very good take up, and the service KPIs (key performance indicators) from what we monitor and what Starlink provides are showing very good results. Very good outcomes so far, and we are just very much looking forward for more accelerated adoption in the future,” said Joel Agustin, senior vice president for engineering and network planning.

READ: GCash, Vitro seen ending PH IPO drought

Visayas is among the pilot areas for the cell-to-satellite initiative.

On the other hand, Globe also said data center demand was surging with the rise of artificial intelligence (AI), outpacing current capacity.

Through STT GDC Philippines, its joint venture with Ayala Corp. and ST Telemedia Global Data Centres, Globe operates nine data centers with a combined IT load of 146 megawatts.

“We are having a hard time coping with the demand right now for data centers,” Globe president and CEO Carl Cruz said, adding the company is working “doubly hard” to capture growth.

Globe is on track to exceed 30 MW of operational capacity by end-2026, while nationwide capacity remains below 200 MW, according to the Department of Information and Communications Technology. / with reports from Logan Kal-El Zapanta, Philippine Daily Inquirer

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.