GCash Parent Mynt Gets SEC Nod for Landmark IPO

MANILA, Philippines — In about five weeks, at least 40 million Filipinos who use one of the country’s major mobile wallets may get the chance to become its part owners. This, as GCash’s parent company, Mynt Inc., moves closer to its historic stock market debut. The Securities and Exchange Commission has already approved Mynt’s planned initial public offering, or IPO, clearing the way for the company behind GCash to offer shares to the investing public. Under the latest timetable, the GCash IPO will be offered from October 6 to 12, with Mynt scheduled to list on the Philippine Stock Exchange on October 20 under the stock symbol “GCASH.” In simple terms, an IPO is a company’s way of inviting ordinary investors to buy a piece of the business through shares that will be traded on the stock market. For millions of Filipinos who have grown accustomed to using GCash for sending money, paying bills, shopping, saving and investing, the IPO offers something new: the opportunity to become an investor in the company behind the app they use every day. But using GCash does not automatically make a person a shareholder. A GCash user, including a GCash card holder, becomes a part-owner only if he or she actually buys shares of Mynt during the IPO or after the company becomes publicly listed. Stock exchange records showed that Mynt plans to offer up to 8.03 billion shares, consisting of up to 1.61 billion new shares and up to 6.42 billion shares being sold by an existing shareholder, plus an overallotment option of up to 1.20 billion shares. The maximum indicated offer price is P10 per share. At the maximum offer price, the IPO could reach about P92.32 billion, potentially making it the biggest IPO in Philippine history. However, the final price has yet to be determined. BDO Capital President Eduardo Francisco recently said the offer price could potentially settle between P7.50 and P8.50, although this remains unofficial until Mynt completes the pricing process. The pricing date is scheduled for October 1, followed by the announcement of the final offer price on October 2. Reports have it that GCash has at least 94 million Filipinos using its platform, while its ecosystem reportedly includes payments, savings, credit, loans, insurance and investment services. Mynt reported P79.8 billion in revenue and P17.2 billion in profit in 2025, figures that helped establish the company as one of the country’s most prominent technology and financial businesses. (Contributed story)