Mynt Inc., the fintech giant behind the widely used GCash app, is set to launch a historic initial public offering expected to reach roughly ₱92 billion. If finalized, the transaction will mark the largest fundraising event in the history of the Philippine Stock Exchange.
The landmark deal serves as a strong vote of confidence in the local financial ecosystem, according to Securities and Exchange Commission Chairman Francis E. Lim. Lim noted that an offering of this magnitude demonstrates the capacity of the Philippine capital market to absorb sizeable equity transactions and mobilize investor demand at scale. He added that given GCash’s massive user base, the listing provides a rare opportunity to turn millions of everyday financial service users into direct stock market investors while expressing hope that the final offer price would leave room for meaningful returns for all participants.
Market analysts expect the record offering to energize the local bourse ahead of the fourth quarter. Japhet Tantiangco, research head at Philstocks Financial Inc., noted that a successful debut could revive broader market sentiment and encourage stronger trading activity leading into the traditional year-end rally.
Under its proposed structure, Mynt plans to offer up to 9.23 billion common shares priced at up to ₱10 per share, consisting of an initial tranche of 8.027 billion primary shares and an additional 1.2 billion secondary shares to cover an oversubscription option. The final price will be set on October 1, followed by the public offering period from October 6 to 12. Mynt is scheduled to officially list on the local stock exchange under the ticker symbol GCASH on October 20.
