MANILA (Bloomberg): Philippine financial-technology firm Maya is considering a US initial public offering that may raise US$500 million to US$1 billion, according to people familiar with the matter, joining the ranks of South-East Asian firms seeking to list their shares on overseas exchanges.
The company involved in digital payments and banking is working with advisers on a listing that may happen as early as this year, the people said, asking not to be named to discuss a private matter.
Deliberations are ongoing, and the size and timing of the deal may change, the people added. Maya in a statement said it doesn’t comment on "market speculation” and is focusing on scaling its digital financial services in the Philippines.
Maya’s digital bank had 5.4 million bank customers and disbursed 68 billion pesos ($1.2 billion) in loans in 2024, according to telecommunications provider PLDT Inc., which is the company’s backer. Private equity firm KKR & Co., Chinese technology giant Tencent Holdings Ltd., and the World Bank’s International Finance Corp. were also among its investors.
Southeast Asian companies are considering listings abroad as some local markets are underperforming regional benchmarks. The MSCI Philippines Index has gained more than 12% in the past year, underperforming the regional benchmark MSCI AC Asia Pacific Index.
Among those considering overseas debuts is the Philippine fast food chain operator Jollibee Foods Corp., which said it would list its international business in the US. The restaurant unit of Thai hospitality group Minor International Pcl and Indonesian miner PT Merdeka Gold Resources are exploring Hong Kong share sales, people familiar with the matter have said.
Meanwhile, Philippine fintech GCash postponed its initial public offering in Manila to the second half of 2026, according to people familiar with the matter. The country’s securities regulator late last year said it planned to relax free-float requirements for IPOs to lure more companies, especially large ones, to list on its faltering stock market.
--With assistance from Cliff Venzon and Shirley Zhao. -- ©2026 Bloomberg L.P.
