New public float rule seen to fuel ‘mega’ IPOs

MANILA, Philippines — A long-planned move to bring homegrown unicorn GCash to public hands is seen to gain ground after regulators lowered the minimum public float for large companies, analysts said. Newly-issued Securities and Exchange Commission (SEC) Memorandum Circular No. 11, Series of 2026, lowered the minimum public float for companies with expected market capitalization