Ant-Backed GCash Is Said to Delay Record-Breaking Philippine IPO

Fintech firm GCash is aiming for an initial public offering in Manila in the second half of 2026, according to people with knowledge of the matter, later than previously anticipated as the Philippine stock market sags.

The company, backed by Jack Ma’s Ant Groupand Mitsubishi UFJ Financial Group Inc., had been considering an IPO as soon as this year and is looking to raise $1 billion to $1.5 billion, Bloomberg News has reported previously.

Deliberations about the IPO are ongoing and plans may change, the people said, asking not to be identified because the information is private. ...