Mynt, the fintech company behind GCash, has received authorization from its board of directors and shareholders to pursue a potential initial public offering (IPO) on the Philippine Stock Exchange (PSE), a move that could pave the way for what analysts expect could become the largest stock market debut in Philippine history.
Converge ICT founder and chief executive officer Dennis Anthony Uy said proceeds of the IPO will boost the company’s objective to build the largest fiber broadband network in the country.
The Securities and Exchange Commission (SEC) has considered favorably the initial public offering of Converge ICT for a maximum of about P41.55 billion.
Users will be able to plant virtual yakal trees that will have real-life counterparts. The trees will be part of the Ipo Watershed, which is one of the sources of water supply for Metro Manila.
The Office of the United States Trade Representative (USTR) earlier urged the Philippines to implement effective policies to ensure that government agencies do not use unlicensed software.
Dominant telco PLDT has given its approval to the plan of German e-commerce firm Rocket Internet to proceed with an initial public offering on the Frankfurt Stock Exchange in 2014.
