Philippines’ GCash to Seek At Least $8 Billion IPO Valuation (1)

Top Philippine mobile wallet GCash could aim for at least $8 billion in valuation when it goes public as soon as this year, its chairman said, as it urges regulators to ease rules to make way for its big listing.

“$8 billion should be a minimum in my view,” Globe Telecom Inc. President and CEO Ernest Cu said in an interview on Monday. Cu is also chairman of Globe unit Mynt, the parent of GCash.

Cu said bulk of the initial public offering will likely be secondary shares that would allow the exit of private equity investors which own around ...