GCash parent Mynt prices $845 million IPO, set to bolster Philippine share market

By Reuters News

By Karen Lema and Yantoultra Ngui

MANILA/HONG KONG, Oct 2 (Reuters) - Mynt, the parent of Philippine mobile wallet operator GCash, said on Friday it has priced its initial public offering at 6.60 peso ($0.1052) a share, or about 53 billion peso ($844.7 million) in total, in what would be one of the country's biggest listings.

Mynt plans to sell up to 8.03 billion shares. It could raise as much as 60.9 billion Philippine pesos ($970.6 million) if an option to sell up to 1.2 billion additional shares is fully used, based on Reuters calculations.

The announcement confirms a Reuters report on Thursday that the company would price the IPO at that level.

The deal would give a lift to the Philippine stock market, where companies had raised only $227.1 million through share sales so far this year as of September 29, down 71% from the same period last year, according to LSEG data.

The Philippines accounted for just 1.7% of the $13.06 billion raised across Southeast Asia's equity markets in the first nine months of 2026, LSEG data showed.

Large investors have agreed to buy 36.5 billion peso of shares before the public sale opens, according to Mynt's preliminary prospectus.

These investors include Capital Research and Management Company, Citadel Multi-Strategy Equities Master Fund, HSBC Global Asset Management, the International Finance Corporation and Lazard Asset Management.

Local investors include ATRAM Trust Corp, BPI Asset Management and Trust Corp and China Bank Capital Corp.

Mynt will hold an investor briefing in Makati City on October 6, according to a separate filing. It is scheduled to begin trading on the local bourse on October 20.


($1 = 62.7430 Philippine pesos)

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