Mynt, GCash Parent, Nears Record Billion-Dollar IPO in Philippines

Mynt, the company behind the Philippines' leading e-wallet GCash, is poised for a record-breaking Initial Public Offering (IPO) on the Philippine Stock Exchange, having secured substantial commitments from global and local cornerstone investors. This landmark listing could raise up to $1.3 billion and signal a new era for tech company exits in the country.

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Mynt, the company operating the Philippines' largest digital wallet, GCash, is progressing towards an Initial Public Offering (IPO) on the Philippine Stock Exchange that could be the country's biggest to date. The offering has already attracted initial backing of nearly $600 million (PHP 36.5 billion) from a diverse group of global and domestic investors, according to Asia Tech Review.

The proposed IPO has secured commitments from over 20 cornerstone investors, including prominent firms like HSBC, IFC, Lazard, Ninety One, T Rowe Price, as well as local investment entities such as BPI Asset Management and Metrobank. Mynt officially filed its Red Herring Prospectus and received pre-effective approval from the Philippine Securities and Exchange Commission (SEC) and a Notice of Approval from the PSE on September 24, 2026, as reported by Mynt's newsroom. GCash's extensive reach includes six million merchants and social sellers, 732,000 cash-in/cash-out outlets, and 935,000 small-scale community outlets, underscoring its significant presence in the Philippine financial landscape, according to the Philippine Competition Commission.

If priced at the top end, the IPO could raise up to $1.3 billion (PHP 80.3 billion), significantly exceeding Monde Nissin's 2021 record of PHP 55.89 billion. This landmark listing is anticipated to pave the way for other technology companies in the Philippines to consider public market exits, potentially revitalizing the local tech startup ecosystem.

The anticipation surrounding Mynt's record-breaking IPO has also had a noticeable impact on the local economy. The Philippine peso strengthened against the U.S. dollar on September 16, 2026, partly due to the market's positive outlook on Mynt's upcoming offering, as reported by the Philippine News Agency.