Mynt Inc. Launches Largest IPO in Philippine History
Mynt Inc. raised approximately 53 billion pesos through the largest initial public offering in Philippine history to list its GCash mobile-payments app.
Mynt Inc., the operator of the GCash mobile-payments app, launched the largest initial public offering in Philippine history. The company sold 8.03 billion shares at 6.60 pesos each, raising approximately 53 billion pesos, or 840 million dollars.
This offering surpasses the previous record set in 2021 by Monde Nissin Corp. If an overallotment option is exercised in full, the company could raise more than 60 billion pesos.
Shares are scheduled to begin trading on Tuesday at 9:30 am local time. The listing provides global investors with a significant new entry point into the Philippine stock market.
