Maya's potential listing in 2027

From AB Capital's The Opening Bell: Three Moves

Event

Maya is targeting a 2027 initial public offering (IPO), with PLDT Chairman Manuel V. Pangilinan citing Mynt's successful Philippine Stock Exchange (PSE) debut as evidence of investor demand for quality fintech companies. While open to Nasdaq, he says Maya should also list locally. The offering would raise fresh capital and provide liquidity for existing shareholders, while PLDT intends to retain its stake.

View

Maya's potential listing would add another fintech growth story to the Philippine market. We estimate core earnings rose 47% year-on-year in the first half of 2026, supporting its appeal as one of the few profitable digital banks in the country. Mynt's listing provides a local benchmark, though differences in business mix limit direct comparability.

Catalyst

We would monitor Maya's third-quarter results through PLDT, alongside updates on the IPO timeline, listing structure and valuation.

Action

Investors can gain exposure to Maya through PLDT (rated OUTPERFORM), which owns approximately 38% of the fintech company. A successful listing could unlock value in PLDT's stake and provide a clearer market valuation for the business.

Disclaimer: The information, analyses, and views contained herein is based on sources which we, AB Capital Securities, believe are reliable, but is not guaranteed by us and is not to be considered all inclusive. It is not to be construed as an offer or solicitation of an offer to sell or buy the securities herein mentioned. AB Capital Securities and its Directors and Officers and/or members of their families may have a position in the securities herein mentioned and may make purchases and/or sales of the securities from time to time in the open-market and otherwise.