Mynt IPO seen drawing strong local demand
October 7, 2026 | 10:02 pm DEMAND from local investors for Mynt, Inc.’s initial public offering (IPO) has been strong, with orders from major domestic institutions prompting banks to seek larger share...
October 7, 2026 | 10:02 pm DEMAND from local investors for Mynt, Inc.’s initial public offering (IPO) has been strong, with orders from major domestic institutions prompting banks to seek larger share allocations, according to BDO Capital & Investment Corp. BDO Capital President Eduardo V.
Francisco said demand from institutions including the Government Service Insurance System (GSIS) and Social Security System (SSS) had exceeded expectations despite subdued activity in the Philippine stock market. “The total demand we’re seeing is exceeding historical demand for local IPOs.
So, it’s great, right? It’s like it’s exceeding expectations,” he told reporters on Tuesday. Mynt, the financial technology company behind GCash, priced its IPO at P6.60 per share, below the P10 maximum price stated in its initial prospectus.
GCash Chief Finance Officer Evelyn Ng said the P10 figure was not the company’s expected final listing price but was included as part of the requirements for its initial listing application before discussions with investors. “The P10 was never the price that we expected to list Mynt,” Ms.
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Ng said. She said the final offer price was determined following investor meetings and the bookbuilding process, with input from the company, selling shareholders, investors, and banking advisers. At P6.60 per share, Mynt’s base offering is worth about P53 billion.
The transaction could reach about P60.92 billion if the overallotment option is fully exercised. Mynt will offer up to 8.03 billion common shares, comprising up to 1.61 billion newly issued shares and up to 6.42 billion existing shares to be sold by current shareholders. An overallotment option covers up to 1.20 billion additional secondary common shares.
The shares will be listed on the Philippine Stock Exchange’s Main Board under the ticker symbol GCASH. Based on Mynt’s final IPO prospectus, the company plans to allocate 60% of the net proceeds from the primary offer to the expansion of its CreditTech business, with the remainder going to product development and general corporate purposes.
Mynt Chief Executive Officer Martha M. Sazon has said more than 90% of GCash users come from lower-income segments and that the company still sees room to expand its reach. Mr.
Francisco said he hopes interest in the Mynt listing would extend to other Philippine stocks. “Hopefully, there’s a spillover effect to the other stocks,” he said. — Alexandria Grace C.
Magno
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