Mynt Inc., the parent company behind leading digital financial platform GCash, has submitted its registration statement to the Securities and Exchange Commission (SEC) to pursue an initial public offering (IPO) that could raise up to ₱92.3 billion.
While the formal filing has been made, SEC sources said additional documents have been required to complete the submission process.
The proposed offering includes up to 8.02 billion common shares, with an overallotment option of another 1.2 billion secondary shares priced at ₱10 each. Of the total, up to 1.6 billion will be newly issued through a primary offer, while 6.42 billion shares will come from existing shareholders via a secondary offering. Upon full completion, the company expects around 66.89 billion shares to be outstanding, representing 12 percent of total capital stock — rising to 13.8 percent if the overallotment option is fully exercised.
GCash has evolved from an SMS-based payment tool into the country’s largest fintech platform. It currently serves 90 million registered users, with 40 million active monthly users — nearly half of the Philippines’ adult population. Approximately 78 percent of users are based outside Metro Manila, and 92 percent belong to lower-income segments.
In the previous year, the platform processed ₱17 trillion in gross transaction value, recorded 56.7 million average daily transactions, and generated ₱79.8 billion in revenue with a net income of ₱17.2 billion, demonstrating strong financial stability and scalability.
Mynt president and CEO Martha Sazon stated that the IPO marks the next phase of growth, aiming to expand financial inclusion across the country. The company’s underwriting team includes global financial institutions Morgan Stanley, J.P. Morgan, and UBS, alongside local partners BPI Capital and BDO Capital.
The move underscores the growing importance of digital finance in the Philippines, proving that expanding access to financial services can support both social impact and sustainable business growth.
