GCash

Mynt has priced its proposed GCash IPO at PHP 6.60 per share, setting a PHP 53 billion base offer that could rise to PHP 60.9 billion.

Mynt, the parent of GCash, has secured commitments from more than 20 global and Philippine cornerstone investors for its planned IPO, with final pricing expected October 1.

The Philippine SEC cleared Mynt's proposed GCash IPO of up to PHP 92.32 billion, subject to remaining requirements and final offer terms.

Mynt, the Philippine fintech company behind digital wallet GCash, said on Wednesday its board and shareholders had approved the filing of a registration statement with the Securities and Exchange Commission and a listing application with the Philippine Stock Exchange for a potential initial public offering (IPO).

Philippine fintech player GCash has launched a new payment innovation, introducing a next-generation contactless solution that offers convenience, security, and global reach with partnership with Alipay+, Mastercard.

In its continued bid to boost digital transformation in the Philippines, mobile payments service firm GCash is partnering with digital ordering platforms for restaurants, starting with Singapore-based restaurants ordering system Tablevibe.

This initiative aims to provide small and medium businesses (SMBs) with more flexible and secure payment options while improving access to credit for buyers.

GCash has selected JPMorgan Chase & Co, Morgan Stanley and UBS Group AG to work on the potential share sale, the people reportedly said. Other banks that may also help to arrange a deal.

The company intends to list in the second half of next year, Bloomberg reported. An IPO of that size would likely make it the biggest ever in the country.

The Philippines-based conglomerate Ayala Corporation has acquired additional 8 percent stake in Globe Fintech Innovations, Inc. (Mynt), the parent company of the finance super app and digital cashless ecosystem GCash in the Philippines, for PHP 22.9 billion ($394.54 million).