GCash rolls out integrated digital IPO subscription service
GCash, the country’s largest mobile wallet, is moving to democratize access to stock market debuts by integrating the fully digital Initial Public Offering (IPO) subscription feature within its GStocks PH platform.
In a statement on Wednesday, Oct. 22, GCash said the move, in partnership with broker AB Capital Securities Inc., would simplify the often-fragmented process for retail investors looking to participate in local listings.
The new feature will debut in conjunction with the upcoming Maynilad Water Services Inc. share sale, with the subscription period running from Oct. 23 to 29.
GCash users will be able to open a stock trading account, fund it via their e-wallet, and subscribe to IPO shares all within the app.
Winsley Bangit, Group Head of New Businesses at Mynt, GCash’s parent company, said the initiative directly addresses traditional hurdles for individual investors, such as uncertain share allocation and inconvenient, off-platform transactions.
By distributing shares on a first-come, first-served basis, and providing real-time transparency on remaining share availability, the platform seeks to assure retail investors of their allocation in a listing, a common pain point particularly during oversubscribed offerings.
“Through GStocks PH, we’re ushering in a completely digital IPO experience that addresses traditional barriers that limited how ordinary Filipinos participated in public listings in the past,” Bangit, said.
He emphasized the goal to extend the convenience and ease of access enjoyed by institutional investors to individual users while ensuring a transparent and compliant environment.
The partnership leverages GCash’s substantial user base to funnel a new wave of investors into the Philippine Stock Exchange (PSE).
“This aligns with our mission to make investing in stocks more inclusive and transparent,” added Hazel Tanedo Tan, Research Head at AB Capital Securities Inc.
The digital offering is set to be a permanent feature on GStocks PH, available via AB Capital Securities Inc. for future IPOs and Follow-on Offerings (FOOs), marking an aggressive step by the mobile wallet provider to establish itself as a dominant force in the financial investment landscape for the everyday Filipino.
Only fully verified GCash users who register for GStocks PH are eligible to use the new service.