“I think the Liberation Day added a lot of uncertainty,” Juan Carlo C. Puno, Globe chief financial officer, said during a media briefing after the company’s stockholders’ meeting on Tuesday.
Globe, along with parent firm Ayala Corp., is the largest shareholder in GCash via operating firm Mynt.
Despite these risks, Puno said they continue to prepare for its listing, which was expected as soon as the latter part of 2025.
“So when the market opens up, if we find a window where the value, the valuations we’re getting and the interest we’re getting is appropriate and acceptable, then we will push that button to trigger the IPO,” Puno said.
“Whether or not it happens this year or next year, it’s really dependent on how this whole liberation day traffic evolves over the next few months,” he added.
Globe’s new CEO sees GCash IPO being ready ‘very soon’
GCash is targeting a valuation of at least $8 billion (P450 billion)—surpassing even Globe’s market capitalization of about P290 billion.
But reaching that target may prove challenge thanks to market volatility triggered by sweeping tariffs under President Trump, which have sparked sharp declines across global markets.
Meanwhile, Carl Cruz, who officially became Globe’s president and CEO on Tuesday, said they’re still on track to list the fintech leader.
“It will be in push button mode very very soon and we want to ensue the macro environment, when we do the IPO, will be very conducive for this particular offering to be the most successful in the Philippine market,” he said during the briefing.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
