Globe Telecom Gears Up for GCash’s ‘Most Successful IPO’ in Philippine History

Globe Telecom is moving full speed ahead with preparations for GCash’s highly anticipated IPO, aiming to make it the most successful initial public offering in the country, according to company executives.

During a press conference, Globe president and CEO Carl Cruz reaffirmed their commitment, saying the GCash IPO will be “push-button ready” when market conditions are optimal. The offering is being closely watched, with GCash’s parent company Mynt reportedly targeting a valuation of at least $8 billion.

Mynt is a joint venture between Globe, the Ayala Group, and Ant Financial.

One potential hurdle is compliance with the 20% minimum public float rule. While GCash may seek exemptive relief from the Securities and Exchange Commission (SEC), SEC chairperson Emilio Aquino noted no formal request has been made yet.

Globe CFO Carlo Puno added that despite economic uncertainties—including global impacts from U.S. policies—the company is staying focused on IPO readiness. Launch timing will depend on investor interest, market sentiment, and overall valuation trends.