Mynt, the parent company of Philippine mobile-money leader GCash, has filed for a proposed initial public offering in Manila that could raise up to PHP 92.3 billion, or approximately USD 1.5 billion. If completed at the top of the range, the transaction would become the largest IPO in the country's history.
The offering comprises up to 8.03 billion common shares at a maximum offer price of PHP 10 per share, plus an overallotment option of up to 1.20 billion additional shares. Expected timing is the fourth quarter of 2026, subject to approvals. Morgan Stanley, JPMorgan and UBS have been mandated as joint global coordinators, according to the company's disclosure.
SET TO SURPASS MONDE NISSIN RECORD
At the maximum size, the deal would surpass Monde Nissin's PHP 55.89 billion 2021 debut as the Philippines' largest IPO on record.
GCash reported 39.1 million monthly active users in 2025, while Mynt earned PHP 79.8 billion in revenue over the same period.
BOOKRUNNERS AND TIMETABLE
Of the 8.03 billion base shares, 1.61 billion are new primary shares and 6.42 billion are secondary shares; the overallotment shares are also secondary.
The offering requires approval from the Philippine Securities and Exchange Commission and the Philippine Stock Exchange.
Mynt's major shareholders include Globe Telecom, Ayala Corp., Ant International and MUFG Bank.
The pricing range in the filing is a maximum offer price, and the definitive terms of the offering, including the final size and price at which shares are ultimately sold, will be determined closer to launch based on investor demand and market conditions.