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Manila, Philippines — Mynt Inc., the operator of GCash, began taking investor orders this week for what’s set to become the largest initial public offering in Philippine history. The company and its shareholders are offering as many as 8 billion shares at a maximum price of ₱10 each, with pricing expected to land below that ceiling around ₱6.50 following strong interest from major global institutions including BlackRock, Capital Group, and Schroders. The deal is expected to price on October 1, with a retail offer period running October 6 to 12 ahead of a projected listing date of October 20. At full scale, the offering could raise up to ₱92.3 billion (roughly $1.47 billion), potentially reviving investor interest in a Philippine stock market that has struggled with thin trading volumes and a wave of delistings. GCash, which began in 2004 as Globe Telecom’s text-based money transfer service, now counts more than 90 million registered users — about three-quarters of the country’s population — and has expanded into savings, credit, insurance, and investment services beyond payments. Read More
