Mynt filed a registration statement with the Philippine Securities and Exchange Commission and applied to list on the main board of the Philippine Stock Exchange, the company said on Saturday.
At its maximum, the offer would be the Philippines’ largest IPO, surpassing Monde Nissin’s record PHP55.89 billion debut in 2021.
It would also test investor demand for financial technology firms in Southeast Asia, where digital wallets have grown fast but also face increasing competition and tighter scrutiny from regulators.
Mynt expects the offering to take place in the fourth quarter, subject to approvals and market conditions.
The planned offer will include up to 8.03 billion common shares, with an option to sell up to 1.20 billion additional shares if demand is strong.
At a price of up to PHP10 per share and if the overallotment option is fully used, the company could raise as much as PHP92.3 billion, Mynt said.
A customer uses his smartphone to scan the QR code to pay via the mobile e-wallet payment service GCash rolled out by the Philippines’ Globe Telecom and Ant Financial of Alibaba Group at a hotel in Manila, the Philippines, Aug. 6, 2018. Photo by Oriental Image via Reuters |
GCash had 39.1 million monthly active users in 2025 and processed PHP17 trillion in payment transaction value, the company said. Mynt posted revenue of PHP79.8 billion and net income of PHP17.2 billion for the same year.
Mynt was founded in 2015 as a partnership between Globe Telecom, Ant Financial – now known as Ant Group, and Ayala Corp., the country’s oldest conglomerate that was founded by the grandfather of billionaire Jaime Zobel de Ayala.
Morgan Stanley, JPMorgan and UBS are joint global coordinators for the offer. Jefferies, BPI Capital and BDO Capital are also working on the deal.
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