Mynt, the parent company of GCash, debuted on the Philippine Stock Exchange (PSE) on Tuesday, Oct. 20, following an initial public offering (IPO) that could raise up to P60.9 billion, as the fintech company looks to expand beyond digital payments.
Trading under the ticker symbol GCASH, Mynt opened at P6.60 per share, giving it an initial market capitalization of about P442 billion.
The offering covered more than 8.02 billion shares worth approximately P53 billion, with an overallotment option for up to 1.2 billion additional shares. If fully exercised, the IPO would become the largest in Philippine history.
Mynt said the institutional offering was multiple times oversubscribed, attracting 20 domestic and foreign cornerstone investors. More than 140,000 retail investors placed nearly P1.1 billion in orders through GStocks PH, the stock trading platform operated by AB Capital Securities within the GCash app.
The platform allowed investors to participate in the IPO with a minimum purchase of 100 shares worth P660.
Around 70% of retail subscribers had been GCash customers for more than two years, while 8% to 10% were new users who joined to participate in the offering, the company said.
Mynt said the IPO generated nearly P10 billion in fresh capital. About 60% of the proceeds, or more than P5.5 billion, will go toward expanding digital financial services, while 20% will fund new product deployment and the remaining 20% will be allocated for general corporate purposes.
Over the next five years, the company plans to expand its lending, investment, insurance, and merchant services.
Its lending business, operated through Fuse Financing, is expected to be a major growth driver, with a focus on consumers who have limited access to traditional banking and formal credit.
Mynt also plans to expand digital savings, investment, and insurance products, while developing services to help micro, small, and medium enterprises adopt digital payments and other financial technologies.
Payment solutions accounted for 57% of Mynt’s revenue in the first half of 2026, while digital financial services contributed 43%. The company expects the two segments to contribute equally over the medium term as it expands its financial services business.
The shift would reduce its reliance on payments as it seeks to generate more revenue from lending and other financial products.
Mynt is also expanding GCash’s payment features. Its GCommute service allows commuters to use QR codes to pay directly at turnstiles on MRT-3, LRT-1, and LRT-2, eliminating the need to buy separate train tickets.
The company is developing additional services for overseas Filipino workers, including the ability for users with international mobile numbers to maintain GCash wallets, send money, and pay bills.
Mynt said it would continue investing in cybersecurity, fraud prevention, and financial education as it seeks to bring more Filipinos into the formal financial system.
“Today marks a defining milestone for Mynt and the beginning of our next chapter as a public company. We have built GCash into a scaled and profitable business by solving everyday financial needs for Filipinos, and we believe the opportunity ahead remains significant,” said Mynt president and CEO Martha Sazon.
“Our focus now is on deepening engagement across the GCash ecosystem, investing in technology-enabled growth, and translating our scale into sustainable value creation,” she added.
