Mynt Inc., the parent firm of leading digital wallet GCash, has fixed its final offer price for the initial public offering (IPO) at P6.60 per common share.
The base offering consists of 8.03 billion shares, which at the set price will raise approximately P53 billion. If the full 1.2 billion-share overallotment option is exercised, total proceeds could hit roughly P60.9 billion — keeping Mynt’s deal as the country’s largest-ever IPO by amount raised.
The P6.60 final price comes in below the initial maximum of P10 per share stated in the company’s earlier filing with the Securities and Exchange Commission.
Local joint bookrunners and underwriters are BPI Capital Corp., BDO Capital & Investment Corp., AB Capital Securities, and First Metro Investments Corp.
Overseas, Jefferies Singapore Ltd., CLSA Ltd., and HSBC Singapore act as international joint bookrunners. Morgan Stanley, J.P. Morgan, and UBS Singapore serve as joint global coordinators and joint bookrunners.
This offering marks a major milestone: it is not only the country’s biggest IPO to date, but also a landmark public listing for one of the nation’s most widely used financial technology platforms.
