“Let’s work on Maya, now that GCash has been listed already,” Monzon said in an interview.
A Local or Overseas Listing
Monzon said Maya chair Manuel V. Pangilinan wants the company listed in the Philippines.
However, its private equity investors, which include Tencent and KKR, prefer an overseas offering, possibly to secure a better valuation.
A dual listing could satisfy both sides. Monzon recalled that Pangilinan wants a dual listing “at the very worst,” while Philstar reported that the initial plan is for Maya to list in the US first, followed by an IPO in the Philippines.
There is no target date yet. In August, Pangilinan said a possible listing next year was on track, though he expected GCash to reach the stock market first.
Riding on GCash’s Debut
Monzon hopes Mynt’s experience will strengthen the case for a local Maya listing. GCash’s parent raised PHP 60.9 billion in its IPO, drawing both institutional and retail investors, and debuted with a market capitalisation of about PHP 442 billion.
Asked whether Maya’s decision would depend on how GCash shares perform, Monzon said “not necessarily,” pointing instead to the foreign and domestic investors the offering attracted.
Maya posted a net profit of PHP 1.7 billion in 2025.
Its deposits reached PHP 86 billion as of June, while its loan book grew to PHP 39 billion, Philstar noted.
Featured image: Edited by Fintech News Philippines based on an image by Maya via its website.
