GCash operator Mynt moves closer to record PSE debut

GCash operator Mynt Inc. has secured approval from the Philippine Stock Exchange (PSE) for its planned initial public offering, bringing the financial technology company closer to what could become the largest public offering in Philippine history.

The PSE approved Mynt’s application to list its common shares on the Main Board under the trading symbol “GCASH.”

The offering will comprise up to 8.03 billion common shares — 1.61 billion new or primary shares and 6.42 billion existing or secondary shares. The transaction also carries an overallotment option of up to 1.20 billion additional secondary shares.

The shares will be offered at a maximum price of P10 each. The final offer price is expected to be set on Oct. 1, 2026, following the book-building process.

The public offer will run from Oct. 6 to 12, with the company tentatively scheduled to list on Oct. 20.

Martha Sazon 

President and CEO, GCash 

Record potential

“This highly anticipated IPO is poised to set the record as the largest public offering in PSE history,” PSE president and chief executive officer Ramon Monzon said.

Monzon said Mynt’s listing could encourage more financial technology and digital-economy companies to tap the equities market for capital.

In a move expected to broaden retail participation, investors will be able to subscribe to the IPO through GStocks PH in the GCash app. Local small investors may also place orders through the PSE EASy platform.

The planned IPO comes as Mynt expands GCash beyond digital payments into savings, lending, investments, insurance and other financial services.

Proceeds from the sale of primary shares will be used for digital financial services growth initiatives, product development and general corporate purposes, according to the PSE.

Regulatory approvals

The Securities and Exchange Commission (SEC) approved Mynt’s planned IPO on Sept. 4.

The SEC also allowed Mynt a minimum public float of 12 percent because its expected initial market capitalization exceeded the threshold for exceptionally large issuers.

Based on the maximum offer price of P10 per share, Mynt could have a post-IPO market capitalization of up to P668.96 billion, according to the PSE listing notice.

The PSE estimates Mynt’s public float at about 12.06 percent without the overallotment option and up to 13.86 percent if the option is fully exercised.

With key regulatory approvals in place, Mynt is moving closer to a potentially record-setting market debut that would give the Philippine capital market one of its biggest technology listings and allow GCash users another avenue to become shareholders of the company behind the platform. —Connie Fernandez-Brojan | Ed: Corrie S. Narisma