MANILA, Philippines — The upcoming blockbuster GCash initial public offering (IPO) may be big enough to prompt local and foreign funds to reshuffle their Philippine stock portfolios as they free up cash to participate in the offering, according to brokerage COL Financial.
April Lynn Tan, chief equity strategist at COL, said the IPO of GCash parent Mynt could be among the factors influencing portfolio positioning ahead of the fintech giant’s planned October market debut.
READ: GCash files for IPO, targets Q4 debut
Article continues after this advertisement
Mynt is scheduled to conduct an offering from Oct. 6 to Oct. 12 that could raise more than P90 billion. Listing is targeted for Oct. 20.FEATURED STORIES
