GCASH general manager for Wealth Management Darvin Sy Su discusses the company’s push for responsible investing during a working luncheon in Bonifacio Global City.
Photograph by Jason Mago for DAILY TRIBUNE
GCash is urging Filipinos eyeing its parent company Mynt Inc.’s initial public offering to look beyond the hype and study the business before putting their money into the stock.
Darvin Sy Su, general manager of Wealth Management at GCash, said prospective investors should examine a company’s performance, plans and prospects before deciding to trade or invest.
The advice comes as Mynt opened its public offering on Tuesday, giving Filipinos the opportunity to become shareholders of the company behind the country’s largest e-wallet.
“In terms of trading, you’ll have to look into the performance of the business. You have to read up on what the promises are or the plans of the business, right, of the company,” Sy Su told the DAILY TRIBUNE during GCash’s GStocks Part-Owner Era activation at Bonifacio High Street.
“So, with GCash, we have a strong pipeline of business projections and businesses to look into and grow,” he added.
The Mynt IPO is priced at P6.60 per share, with the offer period running from 6 to 12 October. The company is seeking to raise about P53 billion, with an overallotment option that could push total proceeds to about P60.9 billion.
Mynt is scheduled to list on the Philippine Stock Exchange on 20 October under the ticker GCASH. If the overallotment option is exercised, the offering could become the largest IPO in Philippine history.
From users to part-owners
For GCash, the IPO also provides an opportunity to introduce more Filipinos to stock investing through a platform they already use.
Eligible GStocks PH users can subscribe to the Mynt IPO directly through the GCash app, with orders starting at 100 shares, or P660 at the offer price.
For orders placed on 6 and 7 October, the first 100 shares are allocated in real time while shares last. Orders beyond 100 shares are processed on a first-come, first-served basis, subject to availability.
Sy Su said GCash users should also take advantage of the educational resources available on the platform as they begin their investing journey.
“Take a look at GCash. It’s your everyday use, right? So, everything that you want to do in terms of digital transactions, payments, transfers, now into investing and saving, you can do that in GCash.”
“So, now that you are using GCash, it would be best to be a part owner of GCash as well. You have to look into the Learning Hub as well in GCash to read up on how to invest and start your investing journey,” he said.
The push comes as GStocks PH has grown to more than 2 million users, making it the largest contributor to the Philippine Stock Exchange’s online retail investor base.
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