How Filipinos can invest in IPOs through GCash?
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| Courtesy: GCash |
Making investing more accessible
Filipinos can now participate in the initial public offering of Maynilad via GCash.
This development marks the launch of the new IPO subscription feature offered by broker AB Capital Securities Inc. within the GCash app.
It will be available on GStocks PH within the GCash app until October 29, aligning with the Maynilad IPO offer period, and will be offered during future listings as well.
The new feature enables individual investors to easily subscribe to shares when a company lists for the first time on the Philippine Stock Exchange (PSE), GCash said.
Through GStocks PH, Filipinos can open a stock trading account, fund it using their GCash wallet, and subscribe to IPO shares all in one platform.
The feature also brings greater transparency to the process by showing investors in real time how many shares are still available for subscription through their broker, and immediately confirming whether their purchase has been successfully allocated or not.
By distributing shares on a first-come, first-served basis, this addresses a common issue in past IPOs where retail investors are not always guaranteed their shares, especially when an IPO is oversubscribed. Oversubscription occurs when demand exceeds available shares allocated to the broker.
The rollout of this feature ensures public offerings are truly open to the public and brings us one step closer to democratizing investing for every Filipino, said Group Head of New Businesses Winsley Bangit at GCash parent company Mynt.
To access the IPO subscription feature, fully verified GCash users with an updated KYC must go to GInvest in the GCash app and register for GStocks PH. The new feature will be available in-app until October 29 and will continue to be available on GStocks PH via AB Capital Securities Inc. during future IPOs and FOOs (follow-on offerings).
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