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GCash logo. Photo from GCash's Facebook page.
MANILA — GCash parent firm Mynt has set its final offer price for its initial public offering (IPO) at P6.60 per share.
GCash operator Mynt gets green light for 'blockbuster' IPO
The fintech giant said it is offering 8,027,409,600 common shares to the public, with an overallotment option of up to 1,204,111,400 secondary common shares.
The P6.60 value is lower than the previously reported P10 per share.
The public offer period for Mynt shares will run from October 6 to 12. The tentative listing date is October 20, when Mynt will trade under the ticker symbol GCash.
Last week, Mynt named several investors that have committed to its debut in the Philippine Stock Exchange (PSE). Mynt said the aggregate commitments would cover approximately the entire institutional offer tranche of the IPO.
“We believe this reflects confidence in our position as the nation’s number one finance super app, our track record of profitable growth, and the significant market opportunity that lies ahead of us," said Mynt president and chief executive officer Martha Sazon.
GCash, which started as an SMS-based local money remittance service in 2004, has since grown into a fintech giant, helping businesses and customers with payments and even providing lending services. It also has savings and investment services.
GCash saw its valuation double to $5 billion in 2024 after fresh investments from Ayala Corp. and Mitsubishi UFJ Financial Group.
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