It is set to become the biggest initial public offering in the stock exchange’s history.
On Friday, September 18, the Philippine Stock Exchange (PSE) approved the initial public offering (IPO) application of Mynt, Inc., the parent company of e-wallet platform GCash.
The said IPO, worth up to PHP92.32 billion, saw Mynt register up to 66.9 billion common shares, before the Securities and Exchange Commission.
However, as previously noted, the company is set to offer 8.03 billion primary and secondary common shares consisting of up to 1.61 billion primary shares and up to 6.42 billion secondary shares.
There will also be an overallotment option of up to 1.20 billion secondary common shares.
The shares will be sold at a price of up to PHP10.00 apiece during its October 6 to 12, 2026 offer period.
The final offer price will be determined on October 1, 2026 after the company conducts its book building exercise, while its tentative listing date is on October 20, 2026.
It will list on the PSE’s Main Board under the trading symbol GCASH.
About PHP14.95 billion worth of net proceeds from the primary offer will be used for digital financial services growth, product development, and general corporate purposes.
“We welcome this highly anticipated IPO, which is poised to set the record as the largest public offering in PSE history. I hope this landmark listing will pave the way for more fintech and digital economy firms to go public and raise capital through the equities market,” said PSE President and CEO Ramon Monzon.
For the entire year of 2025, GCash said it has served 39.1 million monthly active users and has processed PHP17.0 trillion in payment solutions gross transaction value with 56.7 million daily average transactions.
That same year, Mynt reported revenues reached PHP79.8 billion, while its net income went to PHP17.2 billion.
Apart from GCash, Mynt also operates G-Xchange, Inc., the payments company for GCash responsible for the digital payments and electronic money activities in the GCash app, and Fuse Financing, Inc., the financing company for GCash that provides a range of fair and digitally-enabled credit products and solutions.
“I am optimistic that this debut will drive strong market activity ahead of Q4. Considering that the IPO subscription will also be made available through GStocks in the GCash app, we expect to see a significant uptick in new retail investors,” Monzon added.
