Mynt Sets P10 Price Cap for Record PSE IPO of 8.03 Billion Shares
Mynt plans to list up to 8.03 billion shares on the PSE Main Board at a maximum price of P10, aiming for a record-breaking debut in October 2026.
Key points
- Mynt will list up to 8.03 billion shares on the PSE Main Board at a maximum price of P10 per share.
- The post-IPO market capitalization could reach P668.96 billion, making it the largest public offering in PSE history.
- Proceeds from primary shares will fund digital financial services growth, product development, and general corporate purposes.
Mynt, the operator of the GCash digital wallet, has received approval from the Philippine Stock Exchange to list its common shares on the Main Board under the symbol GCASH. The exchange sanctioned the offering, which comprises up to 8.03 billion shares split between primary and secondary inventory, marking a significant step toward the largest public offering in PSE history.
According to reporting from InsiderPH, the transaction includes an overallotment option for an additional 1.20 billion secondary shares. The maximum offer price is set at P10 per share, with the final price to be determined on October 1, 2026, following the book-building process. The public subscription period is scheduled to run from October 6 to 12, with listing tentatively set for October 20, 2026.
Offering Structure and Retail Access
The capital raise consists of 1.61 billion new primary shares and 6.42 billion existing secondary shares. To broaden retail participation, Mynt will allow investors to subscribe through GStocks PH within the GCash application. Local small investors will also have the option to place orders via the PSE EASy platform, integrating the IPO directly into the user base of the digital wallet service.
Proceeds from the sale of the primary shares are designated for digital financial services growth initiatives, product development, and general corporate purposes. This capital allocation supports Mynt’s strategy to expand GCash beyond payments into savings, lending, investments, and insurance, positioning the company as a broader financial services provider.
Regulatory Approvals and Market Valuation
The Securities and Exchange Commission approved the IPO on September 4, granting Mynt a minimum public float of 12 percent due to its status as an exceptionally large issuer. Based on the P10 maximum price, the post-IPO market capitalization could reach up to P668.96 billion, as outlined in the PSE listing notice.
The PSE estimates the public float at approximately 12.06 percent without exercising the overallotment option. If the option is fully exercised, the float rises to 13.86 percent. These regulatory clearances finalize the structural requirements for the listing, enabling the company to proceed with the subscription timeline.
Strategic Expansion of Financial Services
The listing coincides with Mynt’s expansion of the GCash platform into a full-stack digital bank. By offering savings, lending, and investment products, the company aims to deepen customer engagement and diversify revenue streams. The IPO provides the necessary capital infrastructure to support these new financial services lines.
PSE leadership views the offering as a catalyst for attracting more financial technology companies to the equity market. The potential record-setting debut is expected to enhance liquidity and provide a benchmark for valuations in the Philippine digital economy sector.
