GCash IPO Greenlit, Poised to Boost MSMEs and Digital Economy

MANILA, Philippines — The Philippine Stock Exchange (PSE) has approved the listing application of Mynt, the parent company of mobile payment giant GCash, paving the way for what is expected to be the largest initial public offering (IPO) in the country's history. This landmark event is poised to significantly boost market reach for micro, small, and medium enterprises (MSMEs) and foster entrepreneurial growth. The PSE greenlit Mynt's application on Friday, September 18, for the listing of up to 8.03 billion primary and secondary common shares, with an overallotment option for an additional 1.20 billion secondary common shares. The shares will trade on the PSE Main Board under the trading symbol GCASH. Trade Secretary Cristina Roque highlighted the crucial role of digital payment platforms like GCash in empowering MSMEs. "Companies like GCash and digital payments will really help MSMEs grow, as it will become easy for them to sell their products, especially on e-commerce platforms. Magiging madali na for them ang ma-access or ma-penetrate ang far-flung areas. If they use these digital payments, it’s easier for MSMEs to transact," she stated. Roque also emphasized the upcoming Digital Economy Framework Agreement (DEFA), slated for signing at the 49th ASEAN Summit in November, which aims to streamline cross-border payments and data flows across ASEAN Member States, further accelerating the adoption of digital payments. The IPO is anticipated to raise up to P92.3 billion (approximately $1.6 billion USD), with a maximum indicative price of P10 per share. The final offer price will be determined through a book-building process and could be set between P7.50 and P8.50 per share. The offer period is scheduled from October 6 to 12, with the final price to be set on October 1 and the tentative listing date on October 20. PSE President and CEO Ramon Monzon expressed optimism that this transaction will encourage more fintech and digital economy companies to tap the equities market for capital. He also noted that the offering's accessibility through the GCash app's GStocks feature is expected to attract a broad base of retail investors. Mynt reported P79.8 billion in revenue and P17.2 billion in profit in 2025. (Contributed story)