GCash has an IPO problem – and it’s a good one

Mynt Inc.'s president and CEO, Martha Sazon, expressed great excitement about the upcoming initial public offering (IPO) of GCash, the e-wallet giant's parent company. Scheduled for listing on October 20, the IPO is set to become the largest in the country. Sazon, the highest-ranking Filipino woman on Fortune Magazine's 100 Most Powerful Women in Asia for 2026, emphasized that the IPO is a way for Mynt to give back to the Philippines, a country that has made GCash what it is today.

"We are a Filipino homegrown company," she said, "Proud to be Philippine company run by Filipinos, right? So it’s just right that we list in the Philippines." Sazon also highlighted that the IPO aims to help the investing public grow their wealth, aligning with GCash's mission of financial inclusion and progress. The IPO's demand has been overwhelming, with brokers reporting oversubscription and even platform crashes due to traffic.

BDO Capital & Investment Corp. president Eduardo Francisco said the total demand for the IPO exceeds historical demand for local offerings and is a positive sign that Filipinos are investing. Francisco also mentioned that the company is fighting for allocation to secure more shares. The IPO's offer period runs until October 12, and assuming all overallotment options are exercised, the company's total gross proceeds could reach up to P60.93 billion.

Mynt's chief finance officer, Evelyn Ng, explained that the offer is structured to provide fresh capital for growth and expansion and to offer public investors access to previously privately held shares. Despite the IPO, Sazon emphasized that GCash's mission to make financial services accessible to all Filipinos remains a priority.