Philippine exchange courts Maya for stock market listing
PLDT chief Manuel V. Pangilinan is planning a dual listing, with a US debut initially envisaged before a Philippine IPO.
The Philippine Stock Exchange (PSE) is seeking to persuade digital bank Maya to list locally after GCash parent Mynt Inc. raised a record ₱60.9 billion through its initial public offering.
PSE president and CEO Ramon Monzon told reporters that Maya’s market was mature enough for a listing. He said its parent, PLDT Inc., wanted a Philippine IPO, although foreign investors including Tencent and KKR & Co. Inc. might favour an overseas listing for a higher valuation.
PLDT chairman, president and CEO Manuel V. Pangilinan is planning listings in both countries. The initial plan would put Maya on the US market before it undertakes a Philippine IPO.
Mynt’s offering drew institutional and retail buyers, alongside 20 cornerstone investors including BlackRock Inc. and International Finance Corp. GCash began trading at a market capitalisation of about ₱442 billion. Monzon said the investor response suggested fintech could help drive capital markets as the Philippines shifts towards digital services.
Maya recorded a ₱1.7 billion profit in 2025, its first in three years. Its deposits stood at ₱86 billion as of June, while its loan portfolio reached ₱39 billion. It also accounted for 53 per cent of point-of-sale terminals.
