Insider Spotlight:
The decision, approved by the board, reduces the par value of Mynt’s common shares from P1 to P0.03. This increases the number of common shares from 2.1 billion to over 71.6 billion, without changing the company’s authorized capital stock of P2.15 billion.
In a statement to InsiderPH, Mynt president and CEO Martha Sazon said the move is part of an effort to position the company for eventual access to public capital markets.
“The stock split is a move to future-proof for any capital raising opportunities, which could include an IPO,” Sazon said. “Mynt aims to be push-button ready when the opportune time to tap the capital markets arrives.”
She explained that these preparations include “studying and ensuring compliance with all relevant regulatory requirements, understanding market expectations, and pursuing operational readiness across key business functions.”
“At this point, we would like to reiterate that we have not filed anything yet,” Sazon added. “But when we reach that point, everyone can be sure to hear from me directly.”
Stock splits by private firms are typically seen as a preparatory step toward a public listing. Market analysts said the move could help make GCash shares more accessible to retail investors by lowering the potential IPO price.
GCash— backed by Globe Telecom, Ayala Corp., Ant Group, Mitsubishi UFJ, and Mitsubishi Corp.— was last valued at $5 billion in 2024. It is eyeing a valuation of at least $8 billion, according to a previous InsiderPH report.
Globe CFO Juan Carlo Puno earlier said they are preparing for a Philippine IPO in 2025 or 2026, depending on market conditions.
