Friday, 18 September 2026 · SEA Deal Ticker

SEA Deal Ticker Fri, 18 Sept

Manila clears its e-wallet to list; Jakarta's milk aisle changes hands.

The country's biggest listing is an e-wallet: GCash owner Mynt cleared for a US$1.5B IPO — Daily Tribune · Permalink

The Philippine Stock Exchange approved Mynt's listing on Friday. The GCash operator will sell up to 9.23 billion shares, raising up to US$1.5 billion (P92.3 billion), and trade under the ticker GCASH from October 20.

Positive-sum angle: Manila's exchange has never absorbed an offering this size; any Philippine founder who assumed an exit meant selling to a Singapore buyer now has a second door to price against.
Indonesia's two biggest milk brands combine, and the founding family loses control: US$820M for Frisian Flag — DealStreetAsia · Permalink

Frisian Flag Indonesia's owners will hand their shares to Ultrajaya for 7.88 billion new ones, a US$820 million (Rp14.57 trillion) deal. Dutch parent FrieslandCampina ends up with 30.81 percent; the Prawirawidjaja family falls from 53.17 to 32.19 percent.

Positive-sum angle: The two companies said they will look at combining manufacturing and distribution; a dairy supplier who sold to one of them now negotiates with a single buyer.
A Jakarta driver rents the bike for US$2.40 a day: Vietnam's Green SM brings VinFast e-motorbikes — TNGlobal · Permalink

Green SM put VinFast electric motorbikes on Jakarta streets on Friday, adding to the electric taxis it already runs there. Drivers rent a bike from US$2.40 (Rp39,000) a day and are guaranteed up to US$9.70 a day.

Positive-sum angle: A Jakarta rider can now start a shift without buying a bike, and any delivery operator hiring in the city has to beat a guaranteed US$9.70 day.
Chinese firms entering ASEAN rose 50 percent: OCBC extends its Bank of Ningbo stake ten years — Fintech News Singapore · Permalink

OCBC signed another ten years with Bank of Ningbo and kept its 20 percent holding, the maximum a foreign bank may own. The Singapore lender says Chinese companies expanding into ASEAN rose 50 percent in 2025.

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