The news
The Mynt IPO has a price. Mynt Inc., the parent of Philippine mobile wallet GCash, set its initial public offering price at P6.60 per share on October 2, 2026, according to GMA News, a level InsiderPH reported values the company at about P442 billion.
The offering targets about P60 billion, GMA News reported, which would make it potentially the largest IPO in Philippine market history. The firm offer covers about 8.03 billion shares, with an overallotment option of up to 1,204,111,400 secondary shares, representing 12% to 13.8% of post-IPO equity. GMA News described the firm-offer shares as primary, while InsiderPH reported a split of 1.61 billion primary and 6.42 billion secondary shares.
The money is not yet raised. The public offer still has to run, and InsiderPH said the roughly P60.92 billion total assumes the overallotment option is used in full.
InsiderPH reported that the public offer runs from October 6 to 12, with trading set to begin October 20 under the ticker GCASH. It said cornerstone investors committed P36.5 billion, or 68.8% of the firm offer, including BlackRock, Fidelity, Capital Group and Schroders. Morgan Stanley, J.P. Morgan and UBS are joint global coordinators, with BPI Capital and BDO Capital as domestic lead underwriters.
At P442 billion, InsiderPH said, Mynt would rank as the third-most valuable financial firm in the Philippines, behind BDO Unibank and Bank of the Philippine Islands and ahead of Metropolitan Bank & Trust. GCash, an affiliate of Globe Telecom, began in 2004 as an SMS money-transfer service and reports 41.5 million monthly active users, according to InsiderPH.
The numbers
- IPO price
- P6.60 per share
- Implied valuation (InsiderPH)
- About P442 billion
- Target raise (GMA News)
- About P60 billion
- Cornerstone commitments (InsiderPH)
- P36.5 billion, 68.8% of firm offer
- Monthly active users (InsiderPH)
- 41.5 million
- Listing date
- October 20, 2026
Why CEOs should care
For fintech founders and investors, this is a live price check on a mature emerging-market wallet. Expect investors to treat the roughly P442 billion clearing valuation as a benchmark when valuing payments and lending platforms in Southeast Asia. Ask: does our valuation story depend on hopeful multiples or on what the market actually paid?
For CFOs planning a listing, the structure matters as much as the headline. Cornerstone investors covered 68.8% of the firm offer, per InsiderPH, which reduces execution risk but also concentrates the book. Boards should weigh how much of an offer to pre-place and what that signals to the wider market.
For banks and payment companies competing in the region, a listed GCash will have public-market currency and a disclosure track record. Expect more scrutiny of its lending and savings products, and more comparable data to use in your own planning.
The bigger picture
A record domestic listing by a wallet operator is a test of whether local exchanges can host large technology IPOs rather than ceding them to New York or Hong Kong. How GCASH trades after October 20 will shape the exit options for other fintech companies in the region that have waited for a reliable public market.
What’s next
Watch the retail offer from October 6 to 12, whether the overallotment option is exercised, and the first-day trading on October 20.
What “Fact-checked” means
Fact-checking means testing a story’s facts against the evidence before it is published. This story went through at least two separate checks before this version was published.
- What we checked
- Its names, figures, dates, job titles, quotes and who said what were checked against the story’s sources, including its main source where it could be opened. The headline was checked for accuracy and overstatement.
- How
- A first check reviewed the whole story. If it passed, a second, skeptical check went back to the sources to look for mistakes in the most important facts. If a check flagged the story, it was edited to fix the problems found, and a separate re-check then reviewed the whole story again.
- Who
- The checks are made by our newsroom, as steps kept separate from the writing, under rules set by our editor, Hussein Mukhtar. A story the checks still flag is held for the editor, who decides whether it is fixed, published or dropped.
- If something is wrong
- “Fact-checked” does not mean error-free. If a material error is found after publication, we correct the story and add a note saying what changed. Report an error
