Mynt, backed by Globe Telecom, Ant Group and Ayala Corp, owns GCash, the Philippines’ largest finance app, according to its prospectus. The platform offers payments, money transfers, lending, savings, investments and insurance products.
The company had 41.5 million monthly active users in the three-month period that ended on Jun 30, or nearly 56 per cent of the Philippines’ adult population, according to its prospectus. GCash users completed payment transactions worth 9.84 trillion pesos in the first half of 2026.
BIGGEST IN THE PHILIPPINES
Mynt’s IPO surpassed Monde Nissin’s 52.2-billion-peso IPO in 2021 to become the largest-ever IPO in the Philippines, according to data compiled by LSEG.
Philippine President Ferdinand Marcos Jr said the listing came at a time when the stock market needed renewed investor interest and broader participation, adding that attracting fresh capital remained a challenge.
He said strong demand from local and international investors offered a “reason for optimism” and reflected continued confidence in Filipino enterprises.
The Mynt IPO attracted more than 20 cornerstone investors, who committed about US$500 million, or nearly 60 per cent of the base deal, according to the company. Investors included BlackRock, Citadel, Fidelity International and the International Finance Corp.
Mynt sold 8.03 billion shares at 6.60 pesos each. The exercise of an overallotment option increased the deal size to 60.9 billion pesos from 53 billion pesos.
Mynt plans to use the proceeds to fund growth in its digital financial services business, product development and general corporate purposes, according to its prospectus.
Mynt said that for the six-month period that ended on Jun 30, its net income rose 7.3 per cent from a year earlier to 10.82 billion pesos. Revenue rose 10.4 per cent to 43.27 billion pesos.
