GCash parent Mynt prices record $845m IPO at P6.60 — a third below its ceiling
Mynt priced its IPO at P6.60 a share, a third below its ceiling, valuing the GCash parent at about P442 billion ahead of a 20 October listing that could become the largest in Philippine history.
Mynt Inc., parent of Philippine mobile wallet GCash, set the final IPO price at P6.60 a share (US$0.1052) on Friday 2 October, disclosed via a Globe Telecom filing to the Philippine Stock Exchange; the price was fixed on Thursday 1 October.
The base offer of up to 8,027,409,600 shares is worth about P53 billion (US$844.7 million), and could reach P60.9 billion if the 1,204,111,400-share overallotment is fully taken up — on track to become the largest IPO in Philippine history, ahead of Monde Nissin’s P55.89 billion 2021 listing.
P6.60 is 34 per cent below the P10 maximum, valuing Mynt at roughly P442 billion on 66.9 billion shares outstanding after the offer.
The offering combines up to 1.61 billion newly issued shares with up to 6.42 billion sold by existing shareholders — roughly 80 per cent of proceeds go to investors cashing out, not fresh capital.
About P36.5 billion was committed by more than 20 cornerstone investors, including BlackRock, Capital Research, T. Rowe Price, the World Bank’s IFC, HSBC Global Asset Management, Citadel Multi-Strategy Equities Master Fund and Lazard Asset Management.
The public offer runs 6–12 October, with a Makati investor briefing on 6 October and a PSE Main Board listing on 20 October under ticker GCASH.
2026 Philippine share sales stood at US$227.1 million as at 29 September, down 71 per cent year on year, per LSEG.
“The GCash IPO presents an opportunity to discuss how more Filipinos can participate in our retail capital markets,” said Rep. JP Padiernos.
Sources: Business Times/Reuters · GMA News · BusinessWorld · Rappler · Philstar
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