Filipinos experienced a more convenient way to participate in San Miguel Corporation’s (SMC) recent ?30-billion preferred share offering through GStocks PH, offered by broker AB Capital Securities Inc., in the GCash app. The offering saw strong retail demand on the platform, giving GCash users access to preferred shares with annual dividend rates of up to 8.6483%.
The SMC offering featured three preferred shares, all priced at ?75 per share: SMC2V, with an 8.0401% annual dividend rate; SMC2W, at 8.3570%; and SMC2X, at 8.6483%. On GStocks PH, demand exceeded the broker’s initial allocation across all three shares, with SMC2V oversubscribed by 3.1 times, SMC2W by 1.3 times, and SMC2X by 1.7 times. The strong demand highlights growing interest among Filipino retail investors in opportunities beyond traditional savings, and the role of digital investing platforms in making the capital markets more accessible to a broader segment of Filipinos.
Expanding access to investing through digital platforms
In the past, retail investors typically needed a bank account and had to coordinate with a broker to invest in the stock market, much less subscribe to an initial public offering (IPO) or follow-on offering (FOO). Even after completing these steps, investors traditionally had to wait until after the offer period to confirm orders for share offering, making the process less convenient. This is especially challenging when demand exceeds availability, causing an offering to be oversubscribed and potentially resulting in incomplete or zero share allocations.
GStocks PH’s digital IPO/FOO subscription feature, offered by AB Capital Securities, streamlines this experience by giving investors greater visibility throughout the subscription process. During the SMC offering, the platform distributed its initial allotted broker shares in real time after order confirmation, making allocations guaranteed on a first come, first served basis. Users could also check the availability of broker’s shares through the subscription meter.
When the broker’s initial allotment became fully sold out on the platform, retail investors could still digitally place orders on GStocks PH and check their allocation results directly through the GCash app after the offer period, without having to coordinate separately with a physical broker.
Together, these features make it easier for more Filipinos to participate in share offerings through a more transparent and convenient digital investing experience.
Fully verified GCash users who want to start investing in stocks, building a diversified portfolio, or participating in corporate share offerings, can open the GCash app, go to the Invest tab, select GStocks PH, and open an account with AB Capital Securities Inc. No bank account is required.
As digital investing continues to evolve, GCash remains committed to providing accessible and inclusive financial tools that help Filipinos invest, build wealth, and work toward a more secure financial future.