Mynt, the parent company behind Philippine finance app GCash, has set the final offer price for its proposed initial public offering at PHP 6.60 per share after an institutional bookbuilding process that the company said was multiple times oversubscribed.
The price applies to 8,027,409,600 firm shares and gives the offer a gross size of about PHP 53 billion, according to Mynt’s October 2 announcement. The Philippine Stock Exchange disclosure also records the PHP 6.60 final offer price.
Offer could reach PHP 60.9 billion
If an overallotment option covering up to 1,204,111,400 secondary shares is exercised in full, Mynt said the IPO could raise approximately PHP 60.9 billion. Reuters calculated that the base offer would rank as the Philippines’ second-largest IPO on record, while the fully exercised offer could become the country’s largest.
Mynt said demand from global and domestic institutions exceeded the cornerstone commitments disclosed before pricing. Those commitments totaled PHP 36.5 billion, according to the preliminary prospectus cited by Reuters. Cornerstone participants include international asset managers and financial institutions as well as Philippine fund managers.
The offer includes both primary and secondary shares. Proceeds from the primary portion will go to Mynt, while proceeds from secondary shares go to selling shareholders. The prospectus says Mynt plans to use most of its primary proceeds for growth in digital financial services and product development.
The PHP 6.60 price is below the top of the previously indicated range, which means the final base proceeds are lower than the maximum discussed before pricing. The overallotment option could lift the total, but it consists of secondary shares and will depend on whether the option is exercised after demand and market conditions are assessed.
Retail offer and listing timetable
Subject to a Philippine Securities and Exchange Commission permit to sell and other customary conditions, the trading participant and retail offer is scheduled for October 6 through October 12. The shares are expected to list on the PSE’s main board under the ticker GCASH on October 20.
Mynt emphasized that the timetable remains subject to regulatory approvals, market conditions and other customary considerations. Pricing therefore marks a major milestone but does not by itself complete the listing.
Morgan Stanley, J.P. Morgan and UBS are acting as joint global coordinators and joint bookrunners. Other international and domestic banks are participating as bookrunners, underwriters and co-manager.
Philippine fintech listing test
The transaction is a significant test of public-market demand for a large Southeast Asian fintech company. GCash is operated by Mynt subsidiary G-Xchange, while Mynt also owns digital lender Fuse Financing and other financial-technology businesses.
Reuters reported that Mynt’s net income rose 7.3 percent year on year to PHP 10.82 billion in the first half of 2026, while revenue increased 10.4 percent to PHP 43.27 billion. Those figures were drawn from the company’s prospectus.
The listing would also add a large technology and financial-services name to a Philippine equity market where share issuance has been subdued. LSEG data cited by Reuters showed companies had raised $227.1 million through Philippine share sales in 2026 through September 29, down 71 percent from a year earlier.
TNGlobal previously reported that Mynt had secured commitments from more than 20 cornerstone investors ahead of pricing. The final price is a new stage in the same offering and determines the base size of the transaction. Final proceeds will still depend on allocations, closing conditions and whether the overallotment option is used.
GCash parent Mynt secures more than 20 cornerstone investors ahead of IPO