GCash owner Mynt's shares inch higher after record Philippine IPO

Mynt, the parent company of GCash, debuted at 6.63 Philippine pesos on Tuesday, a 0.5 percent increase from its IPO price. The tech payments firm raised 60.9 billion pesos in the Philippines' largest IPO, outperforming the weaker Philippine benchmark. Mynt's stock traded at 6.74 pesos by 10 am, up 2.1 percent from the offer price.

The early gain came as the PSE index fell 0.2 percent, suggesting investor interest in a new economy heavyweight. Mynt sold eight billion shares at 6.60 pesos each, with the extra allotment lifting total proceeds to 60.9 billion pesos. The IPO valued Mynt at 442 billion pesos, making it the third-largest listed financial company in the Philippines and the seventh-largest overall.

The listing comes as South-east Asia's IPO market shows signs of selective recovery. GCash, one of the Philippines' most widely used financial platforms, serves 41.5 million monthly active users, completing 9.84 trillion pesos in payment transactions in the first half of 2026. Mynt's valuation leaves little room for execution missteps as it expands lending.