Mynt Secures Global Investors for Record Philippine IPO

Mynt, the parent company of the Philippine mobile wallet GCash, has secured more than 20 cornerstone investors for its upcoming initial public offering. The investor group includes global firms such as BlackRock, T. Rowe Price, and the International Finance Corporation, alongside domestic entities like BPI Asset Management and Trust Corporation.

The IPO is projected to raise up to 80.3 billion pesos ($1.3 billion), which would make it the largest share sale in Philippine history, surpassing the 2021 record set by Monde Nissin. Mynt plans to sell up to 8.03 billion shares at a maximum price of 10 pesos per share, targeting a potential valuation of 669 billion pesos.

The company intends to use the proceeds to expand its digital financial services and develop new products. The offer period is scheduled for October 6 to October 12, with trading expected to commence on the Philippine Stock Exchange on October 20.