Mynt clarifies P10 per share was never the planned IPO price

GCash parent Mynt Inc. on Tuesday clarified that the earlier reported P10 per share price for its initial public offering (IPO) was just for regulatory purposes only.

“The P10 [per share] was never the price that we expected to list Mynt. It was administrative ‘up to’ offer price that was required as part of the Philippines’ listing application,” Mynt Chief Finance Officer Evelyn Ng said at an investor briefing in Makati City.

Early this month, it was announced that the final offer price for Mynt’s IPO was set at P6.60 per share, lower than the announced P10 apiece when the company announced its plan to list on the Philippine Stock Exchange (PSE).

Ng said the pricing process of its IPO shares only came after several consultations after its first filing of prospectus.

Investment analyst Eric Jurado earlier said that Mynt’s final pricing at P6.60 per share could give investors a more attractive starting point.

At the sidelines of the investor briefing, BDO Capital President Ed Francisco said the IPO’s total demand “is exceeding historical demand for local IPOs” so far.

“It’s more a signal that Filipinos are investing,” Francisco said.

The Mynt IPO’s offer period started October 6 and will run until October 12.

Mynt has set the official listing of its shares on the PSE on October 20, 2026.

The planned IPO secured the approvals of the Securities and Exchange Commission (SEC) and the PSE.

Mynt had said its offer would represent 12% to 13.8% of its post-IPO shares and comprise both primary and secondary shares.

Existing shareholders would retain about 88% after the base offer, or about 86.2% if the over-allotment option is fully exercised.

Mynt CEO Martha Sazon, for her part, said that the fintech company’s planned listing on the local bourse is a way of “giving back to the country that has made us big.”

“We are a Filipino home-grown company… run by Filipinos. It’s just right that we list in the Philippines…. We want to help the investing public to also grow their wealth. That is part of our mission —financial inclusion and financial progress,” Sazon said.

As part of activities for its IPO, GCash is offering its GStocks PH feature users with the first 100 shares of its parent’s IPO stakes.

Each user can buy a minimum order their first 100 shares, or P660 at the offer price as an “exclusive offer” for GStocks PH users.

Orders placed on October 6 and 7 will have their first 100 shares allocated in real time, “while shares last,” the mobile wallet said.

Meanwhile, shares ordered beyond the first 100 will be processed on a first-come, first-served basis, subject to availability. — BAP, GMA News