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Grab, GCash IPOs to boost tech play in stocks — DICT
DICT Secretary Henry Aguda is urging technology firms like Grab Philippines and GCash to conduct Initial Public Offerings (IPOs) to energize the local stock market.
Aguda believes these "super apps" are financially mature enough to list their shares on the Philippine Stock Exchange (PSE).
He highlighted that tech companies in other countries, such as Nvidia, Microsoft, and Apple on the NYSE, often represent the top-performing stocks with the highest market capitalization.
The DICT chief also suggested that encouraging tech companies to go public would make it easier for the government to assess contractors for tech projects due to their publicly disclosed financials.
The DICT plans to engage with tech giants and startups to convince them to list starting next year.
Grab Philippines country head Ronald Roda previously stated that the decision to list locally would be an internal matter for its parent company.
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