Mynt Inc, the owner of the Philippines' biggest mobile wallet GCash, is preparing an initial public offering that could raise as much as 92.3 billion pesos, or about $1.5 billion. The company plans to sell up to 9.23 billion shares, including an over-allotment option, priced as high as 10 pesos per share. The shares on offer would amount to roughly 13.8% of Mynt's total outstanding capital stock [1, 2, 3].
If successful, the IPO would surpass the previous record held by Monde Nissin's 2021 offering, which raised around $1 billion, marking it as the largest stock market debut in the Philippines to date [2, 3].
GCash reportedly serves roughly 90 million registered users and has expanded beyond simple payment services. It now offers financial products including credit, investment, and savings options [2, 3].
Key shareholders in Mynt include Globe Telecom Inc, Ant International, and Japan's Mitsubishi UFJ Financial Group Inc, underlining the backing from major telecommunications and financial firms [2, 3].
Mynt received approval from its board and shareholders earlier this month to proceed with the stock exchange listing application. An official announcement of the IPO plans could come as soon as June 26, 2026, the day of this report [1, 2, 3].
The Philippine stock market environment is currently mixed. While trading volumes remain low and some companies have delisted recently, investor sentiment has improved amid easing geopolitical tensions in the Middle East and a wave of technology sector listings abroad [2, 3].
A Mynt representative declined to comment beyond publicly disclosed information, citing company policy against addressing market speculation [2, 3]. The IPO's progress is set to become clearer when the company issues its official statement later today.
