GCash reported robust uptake for recent stock offerings made available to small investors via its GStocks PH platform, citing oversubscriptions for both the Maynilad Water Services Inc. initial public offering (IPO) and the preferred share sale of Megawide Corp.

“Filipinos are increasingly enthusiastic about online platforms that make investing in the stock market more accessible and convenient,” GCash said in a statement.

During the first IPO and follow-on offering (FOO) to be made available within the GCash app, demand surged, with GStocks PH investors taking up more than ₱50 million in shares across both offerings, the company noted.

The inaugural offerings, launched in October through the e-wallet’s new subscription feature on GStocks PH, were facilitated by broker AB Capital Securities Inc.

On GCash, the Maynilad IPO was oversubscribed by more than 200 percent, while Megawide’s Series 7 Preferred Shares FOO saw demand nearly 300 percent above the allocated amount.

For Maynilad, the original tranche of the brokerage’s allocation for the e-wallet was fully taken up within the first 12 hours. Despite the heightened demand, AB Capital Securities fully allocated all GStocks PH orders placed for the two offerings.

“These recent milestones show Filipinos are increasingly enthusiastic about exploring investment opportunities when provided the proper tools and access,” said Winsley Bangit, group head of new businesses at Mynt, the parent company of GCash.

Bangit added that the encouraging response to the Maynilad IPO and Megawide FOO on the platform “demonstrates that being able to invest and plan for a brighter future is no longer limited to a few.”

“AB Capital Securities is proud to continue innovating with GCash to bring the stock market closer to more Filipinos,” said Hazel Tanedo Tan, President of AB Capital Securities Inc. “Together, we’re ensuring that opportunities like IPOs and FOOs become increasingly accessible to every investor who wants to be part of the local growth story.”

Tan noted that by bringing share issuances to a digital platform like GStocks PH, they are “driving greater retail participation and expanding the online investment experience for more Filipinos,” helping AB Capital connect more investors with opportunities to grow their wealth.

The introduction of IPOs and FOOs on GCash, the country’s leading finance superapp and largest cashless ecosystem, offers a new way for listed companies to scale growth while directly strengthening access for individual investors.

“The recently concluded Maynilad IPO and Megawide FOO on GCash set a strong proof of concept for future offerings,” said John Garcia, head of market education for Wealth Management at GCash. “It underscores the potential of bringing investment opportunities directly to a platform millions of Filipinos trust and use every day.”

Garcia highlighted that by simplifying the subscription process into just four taps on GCash, they are “directly supporting a traditionally underserved segment of investors—everyday Filipinos.”

As of June 2024, the Philippine Stock Exchange (PSE) reported 2.86 million stock market accounts, with 99 percent belonging to local investors. For context, this accounts for just around four percent of the country’s roughly 70 million adults, underscoring the considerable potential for growth in retail investing.