Maya chair says Philippine listing likely in 2027
Maya, the Philippine digital bank and e-wallet operator, is targeting a listing on the Philippine Stock Exchange in 2027, chair Manuel V. Pangilinan told reporters in remarks published on August 9. Asked whether a listing next year was more likely than one within 2026, he said yes, adding that the company is preparing.
“I think GCash will really get listed first,” Pangilinan said of the larger rival, according to the Philippine Daily Inquirer. He said preparations take time, citing Maynilad Water Services, which spent about two years readying its own market debut.
The exchange has not received a formal listing application from Maya, president and chief executive Ramon Monzon said in a recent interview, though he described himself as optimistic after Pangilinan conveyed his intention to pursue a dual listing that includes the Philippines. Monzon said GCash would represent the exchange’s first significant technology listing, with Maya potentially following, according to The Paypers.
The timeline marks a shift from earlier plans. Maya had said it was targeting a dual listing by the second half of 2026, with a US offering expected to precede its Philippine debut. Bloomberg reported in February that the company was exploring a US listing that could raise between $500 million and $1 billion. Pangilinan said foreign shareholders favour an overseas listing, citing the deeper US market for raising capital, while local shareholders want a Philippine listing as well.
Maya turned profitable in 2025, booking 1.6 billion pesos in earnings over the first nine months as lending expanded. Its loan book reached 27 billion pesos as of September 2025, up 59 percent year on year, while deposits grew 44 percent to 56.7 billion pesos. The company is backed by PLDT, KKR, Tencent Holdings and the International Finance Corporation, and its banking arm is supervised by the Bangko Sentral ng Pilipinas.
Both stated timelines remain subject to regulatory and preparatory milestones, as neither company has filed a formal application with the exchange.
