{
  "id": 15718203,
  "title": "Ant-backed Mynt, which runs mobile wallet app GCash, rose as much as 2.4% in Manila after raising $841M in the Philippines' largest-ever IPO, valuing it at ~$7B (Kimberley Kao/Wall Street Journal)",
  "url": "https://urgent.news/2026/10/20/ant-backed-mynt-which-runs-mobile-wallet-app-gcash-rose-as-much-as-2",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T08:00:47.000Z",
  "source": {
    "name": "Techmeme",
    "slug": "techmeme",
    "url": "https://www.wsj.com/tech/ant-backed-fintech-mynt-rises-in-debut-after-philippines-largest-ipo-de6a772d?st=rrtwM3&reflink=desktopwebshare_permalink"
  },
  "original_language": "en",
  "account": null,
  "summary": "Ant-backed Mynt, the parent company of digital payments leader GCash, launched the largest-ever IPO in the Philippines. According to The Business Times - Companies & Markets, the company raised 60.9 billion pesos (US$965.9 million) through the sale of eight billion shares, which included both primary and secondary shares. The Wall Street Journal reports the company raised over $841 million, valuing the fintech firm at approximately $7 billion.\n\nOn Tuesday, October 20, Mynt's shares opened at 6.63 pesos, up 0.5 per cent from its 6.60-peso initial public offering price. The Wall Street Journal notes the stock rose as much as 2.4% in Manila, while The Business Times - Companies & Markets reports the stock was trading at 6.74 pesos at 10 am, a 2.1 per cent increase from the offer price.\n\nProceeds from newly issued shares are intended to fund Mynt’s product development, general corporate purposes, and growth in digital financial services. The Business Times - Companies & Markets notes that the exercise of the over-allotment option brought the total raised to 60.9 billion pesos, surpassing the 52.2-billion-peso IPO by Monde Nissin in 2021.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
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        "url": "https://urgent.news/2026/10/20/general-motors-beats-wall-streets-q3-earnings-expectations-narrows",
        "published": "2026-10-20T10:31:50.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "GM shares sink as full-year profit forecast misses Wall Street estimates",
        "url": "https://urgent.news/2026/10/20/gm-shares-sink-as-full-year-profit-forecast-misses-wall-street",
        "published": "2026-10-20T11:30:29.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "GM shares sink as full-year profit forecast misses Wall Street estimates",
        "url": "https://urgent.news/2026/10/20/gm-shares-sink-as-full-year-profit-forecast-misses-wall-street-15739468",
        "published": "2026-10-20T12:01:08.000Z"
      },
      {
        "outlet": "Expansion ES",
        "title": "JPMorgan: bitcoin will rise more in the long term than Wall Street and gold",
        "url": "https://urgent.news/2026/10/20/jpmorgan-el-bitcoin-subira-mas-a-largo-plazo-que-wall-street-y-el-oro",
        "published": "2026-10-20T12:20:38.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}