SEC Clears GCash Parent Mynt for up to ₱92.32B IPO; Listing Targeted for October 20

# What happened Commission (SEC) approved the registration statement for Mynt Inc., the parent company of digital payments platform GCash. The clearance authorizes Mynt to offer up to 66.9 billion common shares with a maximum aggregate value of ₱92.32 billion. Mynt plans to list on the Philippine Stock Exchange (PSE) under the ticker symbol GCASH, with a target listing date around October 20.

# Offer structure and pricing Mynt's IPO package is divided into primary and secondary components plus an overallotment option for stabilizing underwriters. The public offer price is set at up to ₱10 per share. The public offer period is scheduled for early October, giving retail investors a short window to participate:

• Offer period: October 6 to October 12 (one-week public subscription window).
• Price cap: ₱10 per share.
• Overall structure: primary shares issued by Mynt, secondary shares sold by an existing shareholder, and an overallotment option of up to 1.20 billion shares for underwriting stabilization.

# Public float and valuation

# Who's running the deal Mynt assembled a mix of domestic and international banks to underwrite and distribute the offering. Domestic lead managers include BPI Capital Corporation and BDO Capital & Investment Corporation. International coordinating banks and bookrunners include Jefferies, CLSA, HSBC, Morgan Stanley, J.P. Morgan, and UBS AG. An expanded underwriting syndicate increases distribution reach for both retail and institutional investors.

# Strategic context and implications Exchange if offered at or near the stated maximum. Mynt's shareholder consortium includes Globe Telecom, Ayala Corporation, Ant International, MUFG Bank, and Mitsubishi Corporation. The public listing will provide liquidity for those backers and create public-market access for the company's businesses: GCash payments, remittances, micro-lending (through Fuse Financing), and investment products.

Market participants can expect heavy retail interest given GCash's ubiquity, while institutional investors may rebalance domestic holdings ahead of the listing to free up funds. Cornerstone allocations and institutional demand could shape final pricing and aftermarket supply.

# Immediate dates and next steps

• Indicative pricing and final offer notices are scheduled in late September to early October.
• Public offer window: October 6–12.
• Target PSE listing: October 20 under ticker GCASH.

Investors should review the final prospectus materials when posted and note allocation details, lock-up terms for selling shareholders, and underwriter overallotment practices before subscribing.