GCash parent company Mynt received board and shareholder approval on Wednesday, June 17 to file a registration statement with the Securities and Exchange Commission and an initial public offering application with the Philippine Stock Exchange, according to disclosures from Ayala Corporation and Globe Telecom. The approval allows Mynt to proceed with an offering equivalent to 12% of its outstanding capital stock post-IPO at around P0.03 per share. Mynt president and CEO Martha Sazon stated the authorization enables the fintech company to work toward a potential public listing as the next step in its growth journey, while analysts expect the IPO to become the largest on the PSE with Wall Street Journal estimates of around $1 billion in proceeds.
Mynt Board Approves 12% Share Offering at P0.03 Per Share
Mynt's board of directors and shareholders approved the filing of a registration statement with the Securities and Exchange Commission and an IPO application with the Philippine Stock Exchange on Wednesday, June 17. The company disclosed that the offer size is equivalent to 12% of its outstanding capital stock post-IPO with a share price of around P0.03 apiece. Mynt stated that the offer will consist of both primary and secondary shares.
Mynt Reports P5.6 Billion Q1 2026 Profit and $5 Billion Valuation
According to Globe's first quarter 2026 earnings report, Mynt made a P5.6 billion profit, up from P5.1 billion from the same quarter last year. As of August 2024, GCash is believed to be valued at around $5 billion. Since early 2025, Mynt's parent firm Globe has been saying that the fintech giant was IPO ready, but that no final decisions have been made. A Wall Street Journal report estimated that the offer could raise around $1 billion.
CEO Sazon Describes IPO as Growth Journey Milestone
Mynt president and chief executive officer Martha Sazon said in a statement that the board and shareholder authorization allows the fintech giant to work toward a potential public listing as the next step in the company's growth journey. "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 said.
FAQ
What did Mynt's board approve on Wednesday, June 17?
Mynt's board of directors and shareholders approved the filing of a registration statement with the Securities and Exchange Commission and an initial public offering application with the Philippine Stock Exchange on Wednesday, June 17. The offer size is equivalent to 12% of the company's outstanding capital stock post-IPO at around P0.03 per share, consisting of both primary and secondary shares.
How much profit did Mynt report in Q1 2026?
According to Globe's first quarter 2026 earnings report, Mynt made a P5.6 billion profit, up from P5.1 billion from the same quarter last year. As of August 2024, GCash is believed to be valued at around $5 billion, with Wall Street Journal estimates suggesting the IPO could raise around $1 billion.
