Copyright bworldonline
By Ashley Erika O. Jose, Reporter GRAB PHILIPPINES is exploring additional investments in the country to expand its operations, although a local initial public offering (IPO) is not currently on the table, according to its top executive. “Right now, we are a New York stock listed company. I think it is an internal discussion on whether we can IPO in a specific country. We will have to check,” Grab Philippines Country Managing Director Ronald Roda told reporters on the sidelines of the launch of its Asenso Center livelihood hub on Thursday. Information and Communications Technology (ICT) Secretary Henry Rhoel R. Aguda encouraged technology firms, including Grab Philippines, to consider going public to help deepen and energize the local capital market. “We need action in the capital market. I encourage Grab Philippines to do an IPO, maybe it is possible for you to become a unicorn here in the Philippines and drive growth in the industry,” Mr. Aguda said. Mr. Roda said any plan to list locally would depend on multiple considerations and is not among the company’s immediate priorities. “Typically, you do an IPO to raise funds or increase your profile. Grab Philippines is local, but we are part of a bigger company — Grab. Ultimately, our performance is viewed from a global standpoint,” he said. The ICT chief said the government has implemented policies that make the Philippine market attractive for technology listings. “I understand the context is to bring confidence to the public. But I think the other side of it is we are serious investors. There are other ways in which we can contribute to the Philippines. And we’re not going anywhere,” Mr. Roda said. Mr. Aguda, however, said developing the country’s capital market requires active participation from the private sector, especially technology startups. “It is high time that we move to a situation wherein if there is a startup or new tech company they can IPO. I’m a big advocate of that because if a country’s capital market is mature, the economic development is much faster,” he said. For Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce, the Department of Information and Communications Technology’s (DICT) call for Grab to go public reflects the administration’s intent to strengthen the domestic capital market by attracting digital economy players to list locally. “A Grab Philippines IPO would be highly significant at this stage of the market’s evolution — it would not only inject fresh momentum into the Philippine Stock Exchange but also symbolize the growing maturity of the country’s digital and tech-driven sectors,” he said. He added that a local listing could allow Grab Philippines to raise domestic capital while reinforcing its long-term commitment to the ride-hailing, logistics, and digital payments ecosystem. ASENSO CENTER Grab Philippines, together with its motorcycle taxi unit Move It and the DICT, on Thursday inaugurated the Asenso Center — the first livelihood hub of its kind in Grab’s Southeast Asian network. The center serves as a one-stop facility for onboarding, training, skills assessment, and upskilling of Grab’s driver-partners. “Grab is one of the Philippines’ most mature platform-work ecosystems, and that gives us a precise, ground-level understanding of what Filipino platform workers and micro-entrepreneurs truly need to thrive. The Asenso Center turns that insight into action. It opens dignified, digitally powered livelihoods, equips our partners with practical AI co-pilots, and helps families convert opportunity into income at scale,” Mr. Roda said. Grab said the center is part of its ambition to generate 500,000 livelihood opportunities in the Philippines. The company is also set to roll out its group rides feature by December, allowing multiple passengers to share a trip under a single booking — similar to the group order function on GrabFood. “I think one of the things we are pushing this Christmas is our new version of group rides,” Mr. Roda said. “We have not fully advertised this but we are now at a point where we think it’s finally ready for the market with good experience.”
