Pangilinan said the IPO will bring in new money and also allow existing investors to exit; however, the PLDT Group and parent firm First Pacific—which own about 39 percent—plan to maintain or even increase their shareholdings.
“We’re not sellers. We’re not sellers in the secondary market,” Pangilinan said on Wednesday.
Maya’s other shareholders include China’s Tencent, KKR and International Finance Corp.
“We want preemptive right to the new share issue to maintain our stake at 39.6 percent,” he said. “We are prepared to subscribe to the untaken portion of the primary.”
Bloomberg News earlier reported that Maya, which combines the services of mobile payments and a digital bank, is exploring plans for a US listing worth as much as $1 billion.
“It’s what our foreign shareholders want. That’s a deeper market to raise money for this type of business,” Pangilinan said.
After this, the group will push for a Philippine Stock Exchange (PSE) listing to allow Filipinos to invest in Maya.
“We’re insisting on a dual listing,” Pangilinan said.
Maya turned profitable in 2025, booking P1.6 billion in earnings in the first nine months as lending expanded.
Maya Bank’s loan book reached P27 billion as of September 2025, up 59 percent year on year, while deposits grew 44 percent to P56.7 billion and net interest margin widened to 18.9 percent from 13.9 percent.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
