Hello Betamax, Any marketing professional knows that the ultimate sign of success is when a company's name becomes a verb: Google this. Viber me. Let's Grab to the airport. In the Philippines, sending money online has become synonymous with "GCash." People tell each other, "I-GCash mo na lang," which loosely translates to, "Send it via GCash." Mynt, the super app's operator, is hoping to cash in on that brand equity. Earlier this month, the firm's board approved its plans to pursue a listing on the Philippine Stock Exchange after flirting with the idea for years. In today's Top Story, I spoke to analysts who believe that GCash is making a genuine push toward an IPO this time. They are convinced that the current market conditions are in its favor. Listing is only half the battle, though. GCash would have to fight tooth and nail to keep its valuation intact amid a sluggish public market that has seen multiple delistings in recent years. To be sure, companies trading at a discount are nothing new in Asia, and it's a challenge that stock exchanges across the region are actively trying to address. Our second Top Story looks at the reforms markets are rolling out to lift valuations - from encouraging share buybacks to helping listed companies better tell their growth stories. Investors in Southeast Asia have long been waiting for viable public-market exits. With these changes underway, there is reason to hope that appetite for IPOs may finally start to be met. Elyssa Lopez, journalist |
