Nagbibigay ng bagong sigla sa capital market sa bansa ang panukalang Initial Public Offering (IPO) ng Mynt Inc., ang parent company ng GCash at kilalang fintech unicorn sa ilalim ng Globe Telecom Inc. at Ayala Corp.
Sa ginanap na Kapihan sa Manila Bay media forum, binigyang-diin ng mga eksperto na ang hakbang na ito ay hindi lamang nagpapakita ng paglago ng digital platform tungo sa pagiging isang sustainable business, kundi isa ring malaking subok sa kakayahan ng Philippine capital market na humawak ng malalaking fundraising.
Ayon sa market expert na si Jonathan Ravelas, hindi dapat sukatin ang tagumpay ng IPO sa kung aabot ba ang final price nito sa P10 maximum offer price na nakasaad sa regulatory filing.
“The P10 is a ceiling, not a promise, and certainly not a measure of whether the IPO succeeds or fails. Price discovery is precisely what bookbuilding is for. The market will tell you where demand is, what valuation investors are prepared to accept, and ultimately where the appropriate clearing price should be,” ani Ravelas.
“What matters is the quality of that demand. You want an offer that is properly priced, supported by investors who understand the business and its risks, and capable of sustaining liquidity after listing. Pricing below the ceiling can actually be healthy if it leaves room for long-term value creation,” idinagdag pa niya.
Sakaling matuloy, ang Mynt ang magiging kauna-unahang listed fintech company sa bansa. Binubuo ang alok nito ng 12% hanggang 13.8% ng post-IPO shares (parehong primary at secondary shares), kung saan mapapanatili ng mga umiiral na shareholder ang humigit-kumulang 86.2% hanggang 88% ng kabuuang stake.
Kasabay ng paglawak ng mga digital financial platform, ipinaalala naman ni Scam Watch Pilipinas Co-Founder at Co-Lead Convenor Jocel De Guzman ang kahalagahan ng seguridad ng mga consumer laban sa fraud at social engineering.
“Scale brings opportunity, but it also brings responsibility. The more people rely on a digital platform for their everyday financial needs, the more important it becomes to make safety and consumer protection part of the platform’s design—not something that is addressed only after fraud happens,” pahayag ni De Guzman.
“Fraud prevention is a shared responsibility, but platforms are on the front line. Stronger authentication, faster detection of suspicious activity, effective account controls, and continuous consumer education all have to work together because scammers will always look for the weakest point in the system,” dagdag pa nito.
Inaasahan na ang potensyal na pag-list ng Mynt sa Philippine Stock Exchange (PSE) ay magiging krusyal na pagsubok kung handa na ba ang mga mamumuhunan na suportahan ang mga susunod pang henerasyon ng kumpanya sa digital economy ng Pilipinas.
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