The Philippine Securities and Exchange Commission has cleared the initial public offering of Mynt, the operator of the country's largest mobile wallet GCash, in a deal that could raise up to PHP 92.32 billion. The regulator approved the registration statement covering as many as 66.9 billion common shares on 3 September 2026, with the clearance announced the same day ahead of a target listing on 20 October.
The shares will trade on the Philippine Stock Exchange under the ticker GCASH, following an offer period running from 6 to 12 October 2026. At the top of the indicative deal size, the offering would give Mynt an initial market capitalisation of PHP 668.96 billion, and the IPO could be one of the country's largest-ever listings.
LARGEST PHILIPPINE FLOTATION
Mynt was granted a minimum initial public float of 12%, taking advantage of the SEC's new lower public-float requirements for large issuers. Mynt becomes the first issuer to use the reduced float rules for large listings.
Mynt's businesses include G-Xchange, which operates GCash, and lending platform Fuse; GCash offers payments, money transfers, lending, investments and insurance.
The PHP 92.32 billion deal size covers up to 1.61 billion primary shares, up to 6.42 billion secondary shares and an overallotment option of up to 1.20 billion shares at a maximum of PHP 10 each. Mynt expects net proceeds of about PHP 14.95 billion from the primary offer.
REGULATORY AND MARKET SET-UP
The SEC's new rules introduced flexibility on public float for issuers with an expected market capitalisation above PHP 200 billion.
The offering includes up to 6.42 billion secondary shares offered by a selling shareholder.
The listing timetable now points to trading debut on 20 October 2026, when GCASH will begin trading on the Philippine Stock Exchange's main board.
The offer period from 6 to 12 October will define the window for retail and institutional subscription ahead of allocation.