Globe CFO sees tariff uncertainties but aims for GCash IPO this year or next

Globe Telecom CFO Juan Carlo Puno acknowledged that US President Donald Trump's 'Liberation Day' tariffs have introduced uncertainties but will not halt plans for GCash's IPO.

Puno stated during Globe's annual stockholders' meeting on Tuesday that the company aims to proceed with the IPO when market conditions are favorable and valuations are acceptable, likely either this year or next year.

The timing of the IPO depends on how the tariff situation evolves over the next few months, according to Puno.

Globe remains committed to ensuring a successful public listing for GCash despite any uncertainties, driven by growth in its core services and contributions from data center expansion.

Globe's new president and CEO Carl Raymond Cruz emphasized that all hands are on deck to ensure a smooth IPO process, with the company recording a 14% increase in core net income to P21.5 billion for 2024.