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Manila Bulletin devider Business devider GCash secures 16% of AB Capital Securities, targets 50% stake

GCash secures 16% of AB Capital Securities, targets 50% stake

Published Apr 15, 2025 05:26 am

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Globe Fintech Innovations Inc. (Mynt), the parent company of leading e-wallet GCash, has secured a 16-percent stake of AB Capital Securities Inc. (ABSCI), the stock broking arm of investment house AB Capital and Investment Corp.

In its annual report to the Philippine Stock Exchange (PSE), Globe Telecom Inc. disclosed that Mynt entered into a definitive agreement with the AB Capital Group in 2023 to acquire a 50 percent stake in ABSCI.

In September of the same year, Globe said Mynt had closed the first investment tranche for an initial 7.5 percent, amounting to ₱37.50 million.

As of Dec. 31, 2024, Mynt has since sealed the second investment tranche, now owning a 16-percent stake in ABSCI.

Based on Mynt’s initial purchase, ABSCI’s full valuation stands at approximately ₱500 million.

ABSCI, part of the AB Capital Group headed by executive chairman Antonio Jose Periquet, is a firm that provides clients with in-depth company research and access to trading.

Periquet has served as a Non-Executive and Independent Director in Globe since April 2023.

The stock brokerage house and the popular financing application have developed a strong partnership since the PSE urged more retail investors to participate in the local stock market.

GCash previously launched GStocks PH, an in-app stock trading platform powered by ABSCI.

“Through a tie-up with GCash, the country’s leading e-wallet, we provide investment banking clients with unparalleled reach to retail investors all over the country,” ABSCI said on its website.

By allowing users to buy shares from companies listed in the PSE for less than ₱1,000, the registered users of GStocks PH exceeded 800,000 last year.

Users can invest in over 280 local companies on the platform.

GCash’s aim to acquire a 50-percent stake in ABSCI is part of its expansion plans to bolster its financial services.

The popular e-wallet is steadily becoming an all-in-one app, offering services such as lending, insurance, cryptocurrency, and the upcoming GBonds, which will allow retail investors to buy and sell government securities.

Mynt, which is preparing to list on the PSE, is currently valued at over $5 billion.

Mynt was formed in 2015 as a financial technology startup between Globe, Ayala Corp., and Ant Financial, an affiliate of Chinese conglomerate Alibaba Group.

Related Tags

AB Capital Securities Inc. GCash
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