Full Breakdown
Mynt Prices GCash IPO at 6.60 Pesos per Share, Targeting Up to 60.9 Billion Pesos
By Drooid · · How we work
Core Event
Mynt Inc., the financial-technology firm behind the Philippines’ leading mobile wallet GCash, announced on Oct 2 that its initial public offering is priced at 6.60 Philippine pesos per share. The base offering of up to 8.03 billion common shares is valued at roughly 53 billion pesos. An overallotment option for an additional 1.2 billion shares could raise total proceeds to about 60.9 billion pesos if fully exercised. The shares will be listed on the Philippine Stock Exchange (PSE) Main Board under the ticker GCASH, with trading slated for Oct 20.
Background & Context
GCash is the country’s dominant mobile-wallet platform, and Mynt’s public listing follows a period of weak equity issuance in the Philippines. As of Sep 29, companies had raised only US$227.1 million through share sales in 2026, a 71 % decline from the same period in 2025. The Philippines accounted for just 1.7 % of the US$13.06 billion raised across Southeast Asia’s equity markets in the first nine months of 2026.
Timeline
- Sep 22 2026 – Cornerstone investors committed to buying 36.5 billion pesos of shares, according to the preliminary prospectus.
- Oct 1 2026 – Sources reported the IPO price of 6.60 pesos per share.
- Oct 2 2026 – Mynt officially confirmed the pricing and share count.
- Oct 6 2026 – Mynt scheduled an investor briefing in Makati City.
- Oct 6-12 2026 – Retail offer period.
- Oct 20 2026 – Shares begin trading on the PSE.
Data & Statistics
- Share composition: up to 1.61 billion newly issued primary shares and up to 6.42 billion existing secondary shares.
- Cornerstone commitments: 36.5 billion pesos from institutions including Capital Research and Management Company, Citadel Multi-Strategy Equities Master Fund, HSBC Global Asset Management, International Finance Corporation, Lazard Asset Management, ATRAM Trust Corp, BPI Asset Management, and China Bank Capital Corp.
- Projected proceeds: 53 billion pesos (base) to 60.9 billion pesos (including overallotment).
- Financial performance: revenue rose 10.4 % to 43.27 billion pesos in the first half of 2026; net income increased 7.3 % year-over-year.
Official Statements & Responses
Chief Finance Officer Evelyn Ng said the strong institutional demand reflected investor confidence in Mynt’s growth story. In a separate statement, Mynt advised stakeholders to rely on official disclosures for accurate information and declined to comment on market speculation about the pricing.
Why It Matters
If the overallotment option is exercised, the offering would become the largest IPO in Philippine history, surpassing the previous record set by Monde Nissin Corp in 2021. The infusion of up to 60.9 billion pesos is expected to revitalize a market that has seen a sharp decline in fundraising activity, potentially encouraging further capital-raising and supporting Mynt’s plans for expanding digital financial services and product development.
What’s Next
The retail portion of the offering will run from Oct 6 to Oct 12. After the investor briefing on Oct 6, the shares are slated to debut on the PSE on Oct 20, where they will begin trading under the ticker GCASH.