PSE Approves Mynt’s Planned GCash IPO

Business & Technology

THE PHILIPPINES Stock Exchange (PSE) has approved Mynt’s application to list its common shares on the PSE Main Board, clearing another step for the planned initial public offering of the company behind GCash.

Mynt will list under the trading symbol “GCASH.” The proposed offering consists of up to 8.03 billion common shares, including up to 1.61 billion primary shares and 6.42 billion secondary shares. An overallotment option of up to 1.20 billion additional secondary shares is also included.

The shares will have a maximum offer price of ₱10 each. The final offer price is expected to be set on October 1, 2026, following the book-building period.

The public offer is scheduled for October 6 to 12, with the company targeting a listing on October 20.

PSE President and CEO Ramon S. Monzon said the offering could become the largest public offering in the exchange’s history.

“This highly anticipated IPO is poised to set the record as the largest public offering in PSE history,” Monzon said, adding that the listing could help pave the way for more fintech and digital economy companies to raise capital through the equities market.

The PSE said investors will be able to subscribe to the offering through GStocks in the GCash app. Local Small Investors may also participate through the PSE EASy platform.

The offering includes both primary and secondary shares. Proceeds from the primary shares will be used for digital financial services expansion, product development and general corporate purposes, according to the PSE listing notice.

The PSE approval follows the Securities and Exchange Commission’s approval of Mynt’s registration statement in September.

The SEC approved a 12% minimum public float for Mynt, citing the company’s expected initial market capitalization of approximately ₱668.96 billion. The lower minimum float is allowed under the SEC’s rules for companies with exceptionally large market capitalizations.

Mynt had previously received SEC approval for an offering that could reach ₱92.32 billion based on the maximum offer price and the proposed number of shares.

The company operates GCash, which offers digital payment services as well as products covering savings, investments, lending and insurance.

With the PSE approval in place, Mynt is set to proceed with the pricing and public offering stages ahead of its targeted October 20 listing, subject to the proposed timetable.

The final offer price is expected to be announced on October 1, followed by the public offer from October 6 to 12.