GCash’s new in-app feature for buying shares in initial public offerings (IPOs) and follow-on offerings (FOOs) is gaining traction, opening fresh growth opportunities for listed companies while making the stock market more accessible to everyday Filipinos.
GCash reported that investors snapped up around ₱50 million worth of shares across the first two offerings available on the app—the IPO of Maynilad Water Services Inc. and the follow-on offer of Megawide Construction Corp. Maynilad’s initial share allocation for GCash users sold out in just 12 hours, and all orders from both offerings were fully matched by broker partner AB Capital Securities Inc.
GCash executives said the strong turnout shows rising interest among Filipinos when investment tools are easy to use and widely available.
“Being able to invest and plan for a brighter future is no longer limited to a few,” said Winsley Bangit, group head of new businesses at GCash operator Globe Fintech Innovations Inc.
AB Capital president Hazel Tanedo Tan said the partnership is helping bring the stock market “closer to more Filipinos,” while GCash market education head John Garcia noted that simplifying the process to just a few taps provides a major boost for first-time and underserved investors.
The push comes as only 4 percent of Filipino adults hold stock market accounts—2.86 million as of June 2024—highlighting significant room for growth in retail investing.
GCash’s GStocks PH feature lowers the minimum investment requirement by aligning it with standard boardlot sizes and provides real-time visibility on share availability. Users get instant confirmation as long as shares remain in the broker’s allocation. For oversubscribed offerings, the app notifies investors of their final allotments once the offer period ends.
GCash and AB Capital say the successful rollout of these first deals sets the stage for more app-based IPOs and FOOs in the future.
