GCash rallies 40M users ahead of Mynt's IPO

Mobile wallet GCash on Friday rallied its 40 million users ahead of the stock market debut of its parent company, Mynt Inc.

Under the latest timetable, the GCash IPO (initial public offering) will be offered from October 6 to 12, with Mynt scheduled to list on the Philippine Stock Exchange on October 20 under the stock symbol “GCASH.”

Mynt set the pricing date on October 1, 2026, followed by the notice of final offer price to the PSE and Securities and Exchange Commission (SEC) on October 2, 2026.

An IPO is a company’s way of inviting ordinary investors to buy a piece of the business through shares that will be traded on the stock market.

The Securities and Exchange Commission (SEC) earlier said it has “considered favorably” the IPO of Mynt, noting that it is the first company to “take advantage of the Commission’s lower public float requirements for large issuers.”

Citing its September 3 meeting, the corporate regulator said the Commission En Banc resolved to render effective Mynt’s registration statement covering up to 66.9 billion common shares.

For millions of Filipinos who have grown accustomed to using GCash for sending money, paying bills, shopping, saving and investing, the IPO offers something new: the opportunity to become an investor in the company behind the app they use every day.

But using GCash does not automatically make a person a shareholder.

A GCash user, including a GCash card holder, becomes a part-owner only if he or she actually buys shares of Mynt during the IPO or after the company becomes publicly listed.

For ordinary Filipinos, the scheduled IPO represents the possibility of moving from simply being a customer of a digital financial service to becoming an investor in the company that operates it, or being its part-owner.

Mynt is offering up to 1.61 billion common shares as part of the primary offer, while up to 6.42 billion shares will be offered and sold by a selling shareholder.

The offer also includes an overallotment option of up to 1.20 billion shares.

The shares will be sold at up to P10 apiece.

“Assuming the overallotment option is oversubscribed, the company looks to net up to P89.25 billion from the total offer,” the SEC said.

“Around P14.95 billion worth of net proceeds is expected from the primary offer, which will be used for digital financial services growth, product development, and general corporate purposes,” it added. —AOL, GMA News