Shares in Mynt, the operator of Philippine mobile wallet GCash, rose on their market debut on 20 October. The stock opened at 6.63 pesos, above its 6.60-peso offer price, and traded as high as 6.76 pesos in early dealings. Reuters recorded a gain of 1.7% at one point, while The Wall Street Journal reported an intraday rise of as much as 2.4%. The listing followed an initial public offering that raised 60.9 billion pesos after the overallotment option was exercised.
The offering increased from 53 billion pesos to 60.9 billion pesos after the overallotment option was exercised. At that level, it exceeded Monde Nissin’s 52.2-billion-peso flotation in 2021 and became the largest IPO completed in the Philippines. Mynt sold shares under the ticker GCASH after pricing the offer at 6.60 pesos. The debut marked a completed milestone distinct from the offer pricing reported earlier in October.
RECORD OFFER TESTS INVESTOR DEMAND
BusinessWorld reported that the listing proceeded after the 60.9-billion-peso offering, while Reuters said the shares advanced even as wider Asian technology stocks weakened. Cornerstone investors committed close to $500 million, according to Reuters. The group included BlackRock, Citadel and Fidelity International, alongside the International Finance Corporation and other institutions.
Mynt is backed by Globe Telecom, Ant Group and Ayala Corporation. The offer valued the company at about 441.5 billion pesos, or roughly $7 billion, according to The Wall Street Journal. The flotation gives public investors direct exposure to a Philippine payments platform after several years of limited large listings in Manila.
GCASH SCALE SUPPORTS THE LISTING
GCash provides payments, transfers, credit, savings, investment and insurance services through its app. Mynt reported 41.5 million monthly active users for the three months to June, equal to nearly 56% of the Philippine adult population, according to its prospectus as cited by Reuters. Payment transactions reached 9.84 trillion pesos in the first half of 2026.
The completed debut establishes a public-market valuation for one of the Philippines’ largest financial-technology platforms, but the early share gain was modest. Investors will next assess whether Mynt can convert its user base and transaction volumes into sustained earnings growth while funding product expansion. Subsequent trading will provide the next measure of market reception after the overallotment lifted final proceeds to 60.9 billion pesos.