Mynt

Fintech · Digital Payments · Capital Markets

IPO

GCash parent Mynt raises $965M in Philippines' largest-ever IPO

The listing shows global investors now pricing Southeast Asian digital wallets alongside established emerging-market fintech franchises.

• Mynt, the parent company of e-wallet GCash, debuted on the Philippine Stock Exchange on October 20, 2026, raising roughly ₱60.9 billion (about $965M-$970M with overallotment), the largest IPO in Philippine history.
• Backed by Globe Telecom, Ant Group and Ayala Corp., Mynt runs GCash, a digital finance platform offering payments, remittances, lending, savings, investments and insurance to tens of millions of Filipinos.
• Mynt sold over 9.23 billion shares at ₱6.60 each, valuing the company at about ₱441.5 billion ($7B) and making it the seventh-largest listed firm on the exchange, surpassing Monde Nissin's 2021 record offering.
• More than 140,000 retail GCash users subscribed to roughly ₱1.1 billion of shares directly through the app's GStocks PH trading feature, a rare mobile-native retail IPO channel.
• Shares slipped from their ₱6.60 debut close to ₱6.27 within a week as traders took profits, with analysts citing a thin float, no fresh earnings catalyst and broader peso weakness.
• The listing lands amid a broader APAC fintech capital surge, including a $140M raise by Philippine rival Salmon and a region where stablecoin cross-border payments now run 5.3 times traditional volumes.
• A near-billion-dollar exit signals that global capital markets now treat Southeast Asian consumer digital-wallet businesses as investable at institutional scale, not just venture-backed growth stories.