Mynt Inc., the parent company of the Philippine mobile wallet GCash, lists on the Philippine Stock Exchange (PSE) after completing a record initial public offering. Shares begin trading on the PSE’s main board under the ticker “GCASH,” with the listing following strong interest from both local and foreign investors.
The IPO is reported as raising about $967 million and valuing the offering at roughly P53 billion for the base sale, with a possible overallotment bringing it to about P60.9 billion. Outlets highlight that the deal becomes the largest IPO in Philippine history, surpassing a prior P55 billion record set by Monde Nissin in 2021. Reports also note that after the IPO, the stock moves modestly as investors react to the debut. Analysts cited by one outlet frame the next phase for Mynt as focused on increasing usage of financial services by existing GCash users, while another outlet says the IPO could help re-energize the local stock market and draw in more retail investors.
