The operator of the Philippines' leading mobile wallet, GCash, has moved forward with a decisive step toward public listing. Globe Fintech Innovations Inc. announced a stock split, reducing the par value of its common shares from 1 Philippine peso to 0.03 pesos per share. This restructuring will see the company's authorized common shares rise drastically from 2.15 billion to 71.7 billion, while its total authorized capital remains fixed at 2.15 billion pesos (PHP). The initiative, disclosed by major stakeholders Ayala Corp. $AYYLF and Globe Telecom Inc., requires approval from regulatory authorities.

Philippine conglomerate Ayala Corp. has announced its intention to sell 40% of its logistics division to the Danish company A.P. Moller Capital. This transaction aims not only to attract investment but also to facilitate further growth and enhancement of the services provided by AC Logistics Holdings Corp.