SINGAPORE — Mynt, the parent of Philippine mobile wallet GCash, has filed for a proposed initial public offering in Manila that could raise as much as P92.3 billion ($1.5 billion), the company said in a statement.
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At its maximum, the offer would be the Philippines’ largest IPO, surpassing Monde Nissin’s record 55.89 billion peso debut in 2021.
It would also test investor demand for financial technology firms in Southeast Asia, where digital wallets have grown fast but also face increasing competition and tighter scrutiny from regulators.
- Mynt filed a registration statement with the Philippine Securities and Exchange Commission and applied to list on the main board of the Philippine Stock Exchange, the company said on Saturday.
- It expects the offering to take place in the fourth quarter, subject to approvals and market conditions.
- The planned offer will include up to 8.03 billion common shares, with an option to sell up to 1.20 billion additional shares if demand is strong, the statement said.
- At a price of up to 10 pesos per share and if the overallotment option is fully used, the company could raise as much as 92.3 billion pesos, Mynt said.
- GCash had 39.1 million monthly active users in 2025 and processed 17 trillion pesos in payment transaction value, the company said. Mynt posted revenue of 79.8 billion pesos and net income of 17.2 billion pesos for the same year.
- Mynt was founded in 2015 as a partnership between Globe Telecom GLO.PS, Ayala Corp AC.PS and Ant Financial, now known as Ant Group.
- Morgan Stanley MS.N, JPMorgan JPM.N and UBS UBSG.S are joint global coordinators for the offer. Jefferies, BPI Capital and BDO Capital are also working on the deal.
- ($1 = 61.2330 Philippine pesos)
—Reporting by Yantoultra Ngui; Editing by Kate Mayberry
