MANILA — As its expected blockbuster initial public offering draws closer, GCash parent Mynt has named several investors that have committed to its debut in the Philippine Stock Exchange (PSE).
GCash operator Mynt gets green light for 'blockbuster' IPO
Mynt said the following are among its cornerstone investors:
Global cornerstone investors
-Albizia Capital Pte. Ltd.
-Amundsen Investment Management
-Certain funds and other separately managed accounts managed by relevant investment management subsidiaries of BlackRock, Inc.
-Capital Research and Management Company
-FIL Investment Management (Hong Kong) Limited
-HSBC Global Asset Management (UK) Limited (“HSBC GAM”)
-International Finance Corporation
-Lazard Asset Management LLC
-Ninety One North America, Inc.
-Ninety One UK Limited
-NS Partners Ltd.
-RWC Asset (US) LLC
-RWC Asset Management LLP
-Schroder Investment Management Limited (“SIML”), Schroder Investment Management (Singapore) Ltd (“SIMSL”), and Schroder Investment Management (Hong Kong) Limited (“SIMHK”)
-Surveyor Capital (a Citadel company)
-T Rowe Price International Ltd. and T Rowe Price Associates, Inc.
Domestic cornerstone investors:
-ATRAM Trust Corporation
-BPI Asset Management and Trust Corporation
-China Bank Capital Corporation
-Metrobank Bank & Trust Company - Trust Banking Group
-Philequity Management, Inc.
-RCBC Capital Corporation
Mynt said the aggregate commitments would cover approximately the entire institutional offer tranche of the initial public offering (IPO).
“The cornerstone investor group comprises leading institutions who have indicated interest to participate in Mynt’s proposed 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.
At an earlier reported price of P10 per share, Mynt's market capitalization would rise to P669 billion, making it one of the most valuable firms in the country. This is almost three times the current P232 billion market cap of its parent, Globe Telecom.
Mynt said the final offer price is expected to be determined on October 1, following the bookbuilding process.