PLDT’s fintech unit Maya plans an initial public offering in both the Philippines and the US, with the latter listing coming as soon as the second half of 2026, Bloomberg reported
The news agency said last week an IPO in the US could raise $500 million to $1 billion.
The operator and its parent group First Pacific hold about a 40 per cent stake in Maya. US-based private equity company KKR and Chinese internet giant Tencent are minority shareholders in its holding company Maya Innovations.
Financial analysts say an IPO would allow KKR, which invested in Maya in 2018, to exit.
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PLDT chair and CEO Manuel Pangilinan suggested that while its overseas investors are pushing for a US listing, the company is insisting on a dual listing, Bloomberg wrote.
Maya operates as a digital bank and a payments platform. The unit was established as PayMaya and rebranded to Maya in 2022.
Rival Globe Telecom’s fintech unit Mynt operates GCash, the most popular mobile payment app in the Philippines, with more than 80 million users.
Mynt is a joint venture between Globe Telecom, Alibaba’s Ant Group and Ayala Corp.