Key points

  • Mynt set its final IPO price at PHP6.60 a share, valuing the base offer of about 8.03 billion shares near PHP53 billion.
  • The deal could reach roughly PHP60.9 billion if an option for up to 1.2 billion additional shares is fully exercised.
  • The retail offer is scheduled for October 6 to 12, with trading under the GCASH symbol planned for October 20.

Mynt, the parent of Philippine mobile-wallet operator GCash, has set the final price for its initial public offering at PHP6.60 a share. The decision puts the base transaction at about PHP53 billion, or roughly $845 million at the exchange rate cited by Reuters, and moves one of the Philippines' largest planned listings toward its retail offer and market debut. Pricing establishes what investors will pay, but the listing has not yet occurred and remains subject to the offer's closing conditions.

A large deal at a lower final price

The Philippine Stock Exchange approved Mynt to offer about 8.03 billion primary and secondary common shares, including up to 1.61 billion primary shares and 6.42 billion secondary shares. The final price is below the earlier maximum of PHP10.00 a share. At PHP6.60, the base offer is worth about PHP52.98 billion. An overallotment option covering up to about 1.2 billion additional secondary shares could lift the total to roughly PHP60.9 billion if fully exercised. Reuters, citing LSEG data, said the base deal would rank as the country's second-largest IPO after Monde Nissin's 2021 listing; the full additional allotment could make it the largest.

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Institutional demand supports the offering

Mynt said institutional bookbuilding was multiple times oversubscribed, according to Reuters. The preliminary prospectus identified PHP36.5 billion of cornerstone commitments from global and Philippine investors before the public sale. Oversubscription indicates that orders exceeded the shares offered during bookbuilding, but it does not guarantee post-listing performance. The lower final price also means the total base proceeds are substantially below the amount implied by the earlier PHP10 ceiling, giving the company and selling shareholders a clearer trade-off between valuation and transaction certainty.

Capital for digital-finance expansion

The offering combines new shares sold by Mynt with existing shares sold by current holders. Proceeds from the primary portion are intended for digital financial-services growth, product development and general corporate purposes, according to the PSE. That distinction matters because only the primary proceeds go to Mynt; money from secondary shares goes to the selling shareholders. The prospectus figures reported by Reuters show first-half 2026 net income rising 7.3% from a year earlier to PHP10.82 billion, while revenue increased 10.4% to PHP43.27 billion. Those results provide context for the company's growth case, though they do not remove execution or market risks.

What happens next

The retail offer is scheduled to run from October 6 through October 12, with shares expected to begin trading on the PSE's Main Board under the GCASH symbol on October 20. Philippine reporting on the final price noted that the transaction still depends on compliance with regulatory and exchange conditions, including the Securities and Exchange Commission's permit to sell and other terms of the offer. Investors should therefore treat October 20 as a planned listing date rather than a completed event.

Why the IPO matters

A successful debut would give public-market investors direct exposure to one of the Philippines' most prominent consumer-finance platforms and provide Mynt with new capital for expansion. It would also test demand for a large technology and financial-services issuer in a market where equity fundraising has been subdued. Reuters reported that Philippine companies had raised only $227.1 million through share sales in 2026 through September 29, based on LSEG data. The final offer size, the use of the overallotment option and trading after the debut will show whether strong institutional bookbuilding translates into durable public-market demand.

Sources

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