MANILA, Philippines — Mynt, the parent company of GCash, officially entered the Philippine Stock Exchange (PSE) on Tuesday (October 20) , opening a new chapter for the country’s digital finance industry and capital markets.
Trading under the ticker symbol GCASH, the fintech company opened at ₱6.60 per share, translating to an initial market capitalization of approximately ₱442 billion.
The initial public offering (IPO) raised approximately ₱53 billion through the sale of 8.03 billion firm shares at ₱6.60 each.
With the potential exercise of an overallotment option covering an additional 1.20 billion secondary shares, the total offer could reach
approximately ₱60.9 billion, potentially making it the largest IPO in Philippine history.
President Ferdinand Marcos Jr. joined key business leaders and capital market officials at the ceremonial opening bell including
Ayala Corporation chairman Jaime Augusto Zobel de Ayala, Ayala Corporation president and CEO Cezar Consing, Mynt chairman Ernest Cu, Mynt president and CEO Martha Sazon and PSE
president and CEO Ramon S. Monzon.
For Mynt, the listing represents a transition from a privately held fintech business into a publicly traded company, giving investors an opportunity to own a stake in the enterprise behind one of the Philippines’ most widely used financial applications.
“Today marks a defining milestone for Mynt and the beginning of our next chapter as a public company,” Sazon said.
She noted that Mynt had developed GCash into a scaled and profitable business by addressing the everyday financial needs of Filipinos.
Moving forward, the company intends to expand
engagement across its digital ecosystem, invest in technology-driven growth and generate sustainable value for shareholders.
Cu, meanwhile, highlighted GCash’s evolution over the past 22 years from a mobile SMS-based money transfer service into a major digital financial platform.
He said the listing demonstrates the potential of Philippine technology companies to achieve significant scale while emphasizing the importance of sound corporate governance,
disciplined execution and a long-term business strategy. PHOTO COURTESY OF WE ARE GCASH
