GCash parent prices Philippine IPO at record 3.3 billion dollars
Mynt, the parent company of Philippine mobile wallet GCash, has priced its initial public offering (IPO) at 6.60 Philippine peso or US$0.1052 per share, totaling approximately 53 billion peso (US$844.7 million). This substantial listing could bolster the Philippine stock market, which has seen a significant decline in funds raised in 2026.
Companies have only raised US$227.1 million through share sales in the first nine months of the year, a 71% decrease compared to the same period in 2025. Large investors, including Capital Research and Management Company, Citadel Multi-Strategy Equities Master Fund, HSBC Global Asset Management, International Finance Corporation, and Lazard Asset Management, have committed to purchase a total of 36.5 billion peso in shares before the public sale begins.
Mynt's IPO, which will hold an investor briefing in Makati City on October 6, is set to commence trading on the local bourse on October 20.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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