Mynt Inc., the company behind the country's leading digital
wallet GCash, has formally begun the regulatory process for what could become
the biggest initial public offering in Philippine history.
The fintech firm announced on June 27 that it had submitted
its registration statement to the Securities and Exchange Commission along with
its application to list on the main board of the Philippine Stock Exchange. The
company is targeting a public market debut in the fourth quarter of 2026,
pending regulatory approval.
Based on its preliminary filings, Mynt has set a maximum
indicative offer price of P10 per share. At that valuation, the IPO could
generate as much as P92.3 billion, nearly doubling the amount raised by the
country's current record holder, Monde Nissin Corp., which secured P48.6
billion during its 2021 listing.
The planned offering consists of up to 8.03 billion firm
shares. This includes as many as 1.61 billion newly issued shares that will
provide fresh capital to the company, alongside up to 6.42 billion secondary
shares to be sold by existing shareholders. The transaction also includes an
overallotment option covering up to 1.2 billion additional secondary common
shares, allowing underwriters to accommodate stronger-than-expected investor
demand if necessary.
The size of the proposed IPO reflects the scale Mynt has
achieved over the past several years. As of December 31, 2025, GCash reported
39.1 million monthly active users, making it one of the most widely used
financial technology platforms in the Philippines.
User adoption has also translated into massive transaction
volumes. The platform processed an average of 56.7 million transactions every
day, while its payment services generated an annual gross transaction value of
P17 trillion. These figures highlight how digital wallets have evolved beyond
simple payment tools into essential financial infrastructure for millions of
Filipinos.
Financial performance further supports the company's
expansion plans. Mynt recorded P79.8 billion in revenue and posted a net income
of P17.2 billion for 2025, demonstrating sustained profitability as digital
financial services continue to gain wider acceptance across the country.
If regulators approve the listing and the shares are priced at the maximum indicative level, Mynt's market debut would establish a new benchmark for the Philippine capital market. The offering would not only mark a milestone for the company but also signal growing investor confidence in the country's rapidly expanding fintech sector.
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