It is one of the most anticipated IPOs this year.
Last Friday, October 2, Mynt, Inc., the company behind fintech giant GCash announced new details regarding its upcoming initial public offering (IPO) on the Philippine Stock Exchange (PSE) later this month.
According to the company, it has set the offer price of PHP6.60 per share following the completion of an extensive bookbuilding process the sale of 8,027,409,600 common shares (or the firm shares).
This, it told represents a gross offer size of approximately PHP53.0 billion.
“Assuming full exercise of the overallotment option of up to 1,204,111,400 secondary common shares, the Offer would raise up to approximately PHP60.9 billion, which would make it the largest IPO in Philippine history,” the company stated.
During the bookbuilding process, Mynt said that it “attracted strong participation” from major global and domestic institutional investors.
“The bookbuild was multiple times oversubscribed, with meaningful demand beyond the cornerstone commitments,” it shared.
The final allocations, according to the company, are expected to “reflect the size and quality of demand, alongside the objective of establishing a diversified and high-quality shareholder base across global and domestic institutions, as well as a robust retail shareholder base reflecting the strong brand recognition of GCash amongst the Philippine public.”
Subject to receipt of the Permit to Sell from the Philippine Securities and Exchange Commission and the satisfaction of other customary conditions, the Trading Participants and Retail Offer is expected to commence on Friday, October 6, 2026 and will close on Thursday, October 12.
The Offer Shares are expected to be listed on the main board of the PSE under the ticker “GCASH” on Monday, October 20. However, this timetable is still subject to the approvals of the SEC and PSE, market conditions, and other customary considerations.
“The depth and quality of demand we have seen through this process reflects investor confidence in Mynt’s growth story,” said Evelyn Ng, Chief Finance Officer of Mynt.
“We have sought to maintain meaningful access for Filipino investors as we transition to a public company. We believe the final price and allocation provide a strong foundation for Mynt’s next chapter and for creating long-term value for all our shareholders, while continuing to advance our mission of Finance for All,” she added.
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.
