PhilippinesMynt IPO Set at 6.60 Pesos
Mynt, the parent of GCash, priced its initial public offering at 6.60 pesos a share, potentially raising 53 billion pesos in one of the country's biggest listings. The company plans to use most of the funds for digital financial services growth and product development.
Global Newsflix 3 min read
Mynt, the parent of Philippine mobile wallet operator GCash, priced its initial public offering at 6.60 pesos a share, the company said. This could raise around 53 billion pesos, making it one of the country's biggest-ever listings.
The listing could raise as much as 60.9 billion pesos if an option to sell up to 1.2 billion additional shares is fully used. At 53 billion pesos, the deal would rank as the Philippines' second-largest IPO on record after Monde Nissin Corp's 2021 listing.
Mynt chief finance officer Evelyn Ng said the demand for the company's shares reflects investor confidence in its growth story. Large investors have agreed to buy 36.5 billion pesos of shares before the public sale opens.
The offer includes primary and secondary shares, with proceeds from the primary share sale going to Mynt. The company plans to use most of the funds for digital financial services growth and product development. Mynt's net income rose 7.3% to 10.82 billion pesos in the first six months of 2026.
GCash has a strong lead in the e-wallet market with 41.5 million monthly active users, four times the active users of its closest competitor. The company's valuation is driven by its control in the e-wallet market, rather than physical assets.
Analysts say the final IPO price of 6.60 pesos per share is more balanced and less stretched than the previously indicated maximum price of 10 pesos. The price represents a more balanced valuation for Mynt, considering its growth and profitability.
The retail offer is scheduled to run from October 6 to 12, and the stock is set to begin trading on the local bourse on October 20. Mynt's listing is expected to boost the Philippine stock market, where companies have raised only 227.1 million US dollars through share sales this year.
The Philippines accounted for just 1.7% of the 13.06 billion US dollars raised across South-East Asia's equity markets in the first nine months of 2026. Mynt's IPO is seen as a significant development in the country's stock market, with the company's growth and profitability attracting investors.
Key facts
- Mynt priced its IPO at 6.60 pesos per share, potentially raising 53 billion pesos
- The listing could raise up to 60.9 billion pesos if an option to sell additional shares is fully used
- GCash has 41.5 million monthly active users, four times the active users of its closest competitor
- Mynt plans to use most of the funds for digital financial services growth and product development
Three perspectives
Neutral
Mynt's IPO is a significant development in the Philippine stock market, with the company's growth and profitability attracting investors. The listing is expected to boost the market, where companies have raised limited funds through share sales this year. Investors will be watching the company's performance and valuation.
Positive
Mynt's strong lead in the e-wallet market and its growth prospects make it an attractive investment opportunity. The company's plans to use the funds for digital financial services growth and product development are expected to drive its future growth.
Negative
The Philippine stock market has been stagnant, and Mynt's IPO may not be enough to boost the market significantly. The company's valuation is driven by its control in the e-wallet market, which may be subject to competition and regulatory risks.
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