The Philippine Stock Exchange (PSE) may face a delay in welcoming its first e-wallet company due to cautious market conditions and economic uncertainties.
Analysts indicate that major players like GCash are holding off on their IPO plans until there’s a more favorable environment, including potential cuts in borrowing rates by the Bangko Sentral ng Pilipinas (BSP).
GCash, despite its robust financial performance, waits for improved investor sentiment and market participation, while Maya Bank aims to achieve profitability by cutting losses and expanding its customer base.
Experts emphasize the need for Philippine e-commerce to diversify beyond traditional services to attract more substantial investment and market depth.
Source: PhilNews24 | June 20, 2024
