GCash parent Mynt prices US$845 million IPO, set to bolster Philippine share market
This will lift the country’s bourse, where funds raised in 2026 fell 71% on the year as at Sep 29
[MANILA/HONG KONG] Mynt, the parent of Philippine mobile wallet operator GCash, said on Friday (Oct 2) it has priced its initial public offering at 6.60 peso or US$0.1052 a share, or about 53 billion peso (US$844.7 million) in total, in what would be one of the country’s biggest listings.
Mynt plans to sell up to 8.03 billion shares. It could raise as much as 60.9 billion Philippine pesos if an option to sell up to 1.2 billion additional shares is fully used, based on Reuters’ calculations.
The announcement confirms a Reuters report on Thursday that the company would price the IPO at that level.
The deal would give a lift to the Philippine stock market, where companies had raised only US$227.1 million through share sales so far in 2026 as at Sep 29, down 71 per cent from the same period in 2025, according to LSEG data.
The Philippines accounted for just 1.7 per cent of the US$13.06 billion raised across South-east Asia’s equity markets in the first nine months of 2026, LSEG data showed.
Large investors have agreed to buy 36.5 billion peso of shares before the public sale opens, according to Mynt’s preliminary prospectus.
These investors include Capital Research and Management Company, Citadel Multi-Strategy Equities Master Fund, HSBC Global Asset Management, the International Finance Corporation and Lazard Asset Management.
Local investors include ATRAM Trust, BPI Asset Management and Trust and China Bank Capital.
Mynt will hold an investor briefing in Makati City on Oct 6, according to a separate filing. It is scheduled to begin trading on the local bourse on Oct 20. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
