GCash expands access to investing with follow-on offering on GStocks PH with Megawide
Metro Manila, Philippines - In line with its commitment to making investing more accessible, GCash said it is expanding GStocks PH to include follow-on offering (FOO) subscriptions.
Offered by broker AB Capital Securities Inc., the FOO feature allows everyday investors to easily participate in additional share issuances from listed companies, beginning with Megawide’s (MWIDE) Series 7 Preferred Shares.
Through GStocks PH, Filipinos can invest in Megawide’s Series 7 Preferred Shares, available in two tranches - MWP7A offering a fixed dividend rate of 7.31% per year for three years, and MWP7B offering 7.70% per year for five years - providing stable and attractive returns. The offer period opens on Oct. 30 and closes on Nov. 4, with the FOO directly accessible in the e-wallet.
In the past, subscribing to FOO was often a complex and fragmented process for retail investors, requiring multiple platforms and high minimum investment amounts. GCash said it aims to improve this by offering a fully digital, seamless experience with added affordability.
The MWIDE FOO on GStocks PH comes with a minimum investment of P1,000 per order or equivalent to 10 shares at Php 100 per share, further easing retail access. Accessible 24/7 within the GCash app, GStocks PH allows investors to subscribe to the FOO anytime at their convenience. The platform also provides real-time transparency by immediately confirming allocation status while shares remain available through the broker.
Expanding access to investing
GCash said this latest development on GStocks PH strengthens efforts to make investing more inclusive, following the October launch of the in-app initial public offering (IPO) subscription feature. Through GStocks PH, people can now easily open a stock trading account, fund it using their GCash wallet, and subscribe to both IPOs and FOOs all within one platform.
“Expanding GStocks PH capabilities to now include FOOs gives everyday investors even more pathways toward building their financial future,” said Winsley Bangit, group head of new businesses at Mynt, the parent company of GCash. “This continues the momentum of the IPO subscription feature we introduced just last month and represents an exciting step in our mission to democratize investing for all Filipinos.”
“Through our continued collaboration with GCash, AB Capital Securities is thrilled to extend this innovation to more investors,” said Hazel Tanedo Tan, president of AB Capital Securities Inc. “The added digital FOO feature on GStocks PH brings us closer to our goal of championing stronger access to the capital markets and empowering more Filipinos to strive toward their financial goals.”
Fully verified GCash users can subscribe to FOO through GCash by opening the app, going to GInvest and tapping GStocks PH. The feature is available during the Megawide Series 7 FOO and other FOO in the future.
For more information, visit the GCash Help Center.
