Mynt, the fintech company behind GCash, has received authorization from its board of directors and shareholders to pursue a potential initial public offering (IPO) on the Philippine Stock Exchange (PSE), a move that could pave the way for what analysts expect could become the largest stock market debut in Philippine history.
The company said it plans to file a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the PSE in connection with the proposed offering.
Under the planned transaction, the offer will represent 12% of Mynt’s total outstanding capital stock after the IPO. The shares will consist of both primary and secondary offerings, with each common share carrying a par value of P0.03.
The disclosure was also made by parent firm Globe Telecom in compliance with corporate governance and disclosure requirements.
The planned listing has been closely watched by investors since Mynt achieved a multibillion-dollar valuation through successive funding rounds.
Market observers have long viewed the company as a potential blockbuster listing that could rival the country’s largest IPOs and provide a significant boost to the local capital market.
“Over the past decade, Mynt has evolved from an e-wallet operator into the Philippines’ number one finance superapp and largest cashless ecosystem,” said Martha Sazon, president and CEO of Mynt.
“The authorization of our Board and shareholders allows us to work toward a potential public listing as the next step in Mynt’s growth journey, while continuing to focus on the priorities that have brought us to this point: serving customers, supporting merchants, strengthening our platform offering, and building the business for the long term,” she added.
Founded in 2015, Mynt operates GCash, which traces its roots to a mobile remittance service launched in 2004. The company has expanded beyond payments into lending, wealth management, insurance, and other digital financial services, serving consumers, merchants, and enterprise customers nationwide.
The company said it hopes its growth story will also encourage innovation among local startups and technology firms.
“We hope Mynt’s journey could also inspire Filipino companies and startups, fostering a spirit of innovation and entrepreneurship in the local tech community, all while promoting the Philippines as a vibrant hub for technology and fintech innovation in Southeast Asia,” Sazon said.
Mynt emphasized that the proposed offering remains subject to SEC registration, PSE listing requirements, market conditions, transaction structure, regulatory approvals, and other customary closing conditions.
The company has not disclosed a timetable, target valuation, or offer price for the potential IPO.
