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GCash parent Mynt starts taking orders for a record-setting Philippine IPO

Cierra Seay
Published Sep 24, 2026
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Summary:
  • Mynt Inc., owner of GCash, opened order books for an offering that could set a new IPO record in the Philippines.
  • The deal covers up to 8 billion shares capped at 10 pesos apiece, plus an extra 1.2 billion shares if demand warrants.
  • According to a Sept. 22 prospectus, BlackRock, FIL Investment Management and IFC agreed to participate at prices up to 6.6 pesos; if pricing occurs at that level and the overallotment is fully utilized, total proceeds could come to approximately 61 billion pesos ($972 million).

Deal schedule and structure

Mynt plans to set the final price on Oct. 1, hold the retail offer between Oct. 6 and Oct. 12, and begin trading on Oct. 20. Shares on the block come from the company and existing holders. Selling shareholders include Ant Advanced New, Bow Wave, Lion Fintech Investments, Insight Partners and LGVP. Morgan Stanley, J.P. Morgan Securities Plc and UBS AG Singapore Branch are serving as joint global coordinators and joint bookrunners.

Investors, use of proceeds and backers

Cornerstone names include BlackRock, Capital Group, Citadel, Schroders, FIL Investment Management and International Finance Corp. Per the Sept. 22 filing, BlackRock, FIL and IFC committed to take shares at up to 6.6 pesos each. If the overallotment is exercised and the offer prices at that level, the raise would total roughly 61 billion pesos. Mynt plans to channel proceeds into expanding its digital financial services, funding product development and covering general corporate needs.

Market context and what it means for your portfolio

This is the first IPO in the Philippines this year, landing in a market wrestling with thin trading, a wave of delistings and shaky sentiment. IPOs in 2023 brought in about $530 million, the most since the 2021 boom year, thanks largely to Maynilad Water Services Inc.'s debut. Mynt's roots go back to 2004 when GCash launched as Globe Telecom's text-based money transfer.

Big financial moves remind us that protecting your savings requires steady planning and perspective. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.

Today, the app goes beyond payments to credit, investments and savings, and it became ubiquitous through the pandemic. Key shareholders include Globe, Ayala Corp., Ant International and Mitsubishi UFJ Financial Group Inc. If this listing hits the tape as planned, it could soak up attention and cash in a quiet market, potentially resetting the tone for new offerings and giving everyday investors another large-cap option to watch.

Consider taking time to learn strategies that help your money grow with resilience. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.

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Blogs

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September 16, 2026
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September 15, 2026
Fiat Currency Runs on Trust, and the World Just Stopped Trusting the Dollar
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September 10, 2026
US National Debt Hits $40 Trillion: Why the Economy Hasn't Collapsed Yet
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