Mynt, the parent company of GCash, has received board approval to file for an initial public offering (IPO). This announcement was made on June 17, 2026, as the company seeks to enhance its capital structure.
Details of the Proposed IPO
The filings are with the Philippine Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). Mynt intends to offer 12.0% of its total outstanding common shares post-IPO. Each share has a par value of 0.03 pesos.
Globe Telecom, Inc. said its board has approved the filing of a registration statement and listing application for the planned IPO of Mynt, the operator of GCash.
Ashley Jose, Reporter
The offering will include both primary and secondary shares. Mynt aims to raise between $1 billion and $1.5 billion, targeting a valuation of up to $9 billion.
Recent regulatory adjustments by the SEC and PSE have allowed Mynt to propose a public float of only 12.0%. Earlier this year, the SEC reduced the minimum free float requirement from 20% to 15%, encouraging larger listings.
Background of Mynt and GCash
Mynt, launched in 2004 initially as an SMS-based money transfer service, has evolved into a comprehensive digital financial platform. It operates GCash, which offers digital payments and lending services.
The company’s largest shareholder is Globe Telecom Inc., supported by Ayala Corp. It also counts Singapore Telecommunications Ltd. and China's Ant Group among its notable investors.