The prospectus values Mynt at up to P669 billion at the top end of the P10-per-share offer price and seeks to raise as much as P80.3 billion in the base offer, increasing to about P92.3 billion if the overallotment option is fully exercised. Most of the deal is comprised of secondary shares being sold by private equity funds and top officers of GCash.
Globe remains Mynt’s single largest shareholder with a 33.84 percent stake ahead of the listing, the prospectus showed. It won't be paring down its stake in GCash, based on the filing.
Three Ant Group entities collectively own 32.42 percent. One Ant-linked entity with a 6.22 percent stake is expected to sell shares in the IPO.
AM 50 Ventures, Ayala’s investment vehicle with Japan's Mitsubishi, holds 13.02 percent.
This means Globe parent firm Ayala Corp. retains a 6.5 percent indirect stake in Mynt. It won't be paring down its stake in GCash, based on the filing.
Ayala shares rose as much as 4.2 percent to P433.8 each on Monday.
The IPO is scheduled to be priced on Sept. 28, with the final offer price and the Securities and Exchange Commission’s permit to sell expected on Sept. 30.
The public offer will run from Oct. 5 to Oct. 9, ahead of the planned listing on the Philippine Stock Exchange on Oct. 19 this year.
—Edited by Miguel R. Camus
