Mynt raises ₱60.9 billion in record Philippine IPO

Mynt raised ₱60.9 billion in its October 20 listing on the Philippine Stock Exchange, completing the largest initial public offering in Philippine history. Shares opened at ₱6.63, 0.5% above the ₱6.60 offer price, and traded as high as ₱6.74 by 10 a.m., 2.1% above the offer price. The offering grew from a base deal of ₱53 billion after the exercise of an overallotment option. It included newly issued shares and shares sold by existing shareholders. According to Mynt’s prospectus, proceeds from the new shares are intended to support growth in digital financial services, product development and general corporate purposes; proceeds from secondary shares go to existing shareholders. Mynt operates GCash, a mobile wallet and financial platform offering services including payments, transfers, lending, savings, investments and insurance. The company reported 41.5 million monthly active users in the three months ended June 30, equivalent to nearly 56% of the Philippines’ adult population, according to its prospectus. GCash users completed ₱9.84 trillion in payment transactions during the first half of 2026. Mynt reported net income of ₱10.82 billion and revenue of ₱43.27 billion for...