Maya Philippines Inc., the country’s second largest fintech firm, on Thursday said it will provide its upgraded users access to the initial public offering (IPO) of West zone concessionaire Maynilad Water Services Inc.
Maya said it launched its stocks feature, which now carries the IPO of Maynilad. It will make the access through its partner brokers DragonFi Securities Inc., F. Yap Securities Inc. (2TradeAsia) and Philstocks Financial Inc.
Through Maya Stocks, upgraded users can open and fund a brokerage account in minutes and view available IPOs directly within the Maya app.
The IPO subscriptions are completed through participating brokers’ platforms, while Maya provides a secure and convenient channel for account opening and funding.
‘Our goal has always been to make access to financial opportunities simpler and more inclusive,’ said Shailesh Baidwan, Maya group president and co-founder of Maya Bank.
‘Maya Stocks brings IPO participation closer to consumers by embedding a secure, regulated process into the same app they already use every day.’
Users can open a brokerage account with participating brokers, fund it through their Maya wallet with no transfer fees and view IPOs when available.
During the offer period, IPOs such as Maynilad’s will be visible on participating brokers homepages within the Maya app. The platform enables funding of brokerage accounts through the Maya Wallet with no transfer fees.
Users subscribing to the Maynilad IPO can do so with no additional commission fees through participating brokers’ simplified IPO channels. Commission fees continue to apply to regular stock trades.
The feature goes live in time for the Maynilad IPO offer period, which runs from October 23 to 29, and will continue to be available for other company IPOs through Maya’s partner brokers. The Maynilad IPO can be accessed through participating brokers on Maya Stocks.
The company said the launch of IPO visibility on its app is part of Maya’s broader mission to expand access to essential financial tools and bring more Filipinos into the formal financial system.