David Castuciano/Rappler
GCash's blockbuster IPO could turn years of paper gains into billions for its early private equity backers. For the retail investors buying in now, the question is how much growth still remains.
GCash is preparing for an initial public offering (IPO) that could be the largest in Philippine history, allowing ordinary investors to participate in its success and providing early backers with a significant exit opportunity.
The IPO will involve the issuance of up to 1.61 billion new shares and the sale of 6.42 billion shares from existing shareholders, with 80% of the shares being secondary, indicating that most proceeds will benefit early investors rather than raising new capital.
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