Mynt Inc., the parent company of GCash, opened its P53 billion initial public offering to GCash users on Oct. 6, with a minimum purchase of P660. The move puts what could become the largest IPO in Philippine history within reach of mobile wallet users.
If the overallotment option is fully exercised, the offering could raise as much as P60.9 billion, above the P55.89 billion Monde Nissin raised in 2021, currently the largest listing in the Philippines.
How the offer works
The offer period runs from Oct. 6 to 12, and shares are sold through GStocks PH, which is available via GCash and offered by AB Capital Securities. According to Inquirer, orders placed during the first two days of the offer receive their first 100 shares allocated in real time while supplies last, with any additional shares allocated in order of arrival, subject to availability. Fulfillment begins October 8.
The base deal is worth roughly P53 billion, and if the overallotment option is fully exercised, the total rises to about P60.9 billion. Mynt is set to list on the Philippine Stock Exchange main board on Oct. 20 under the ticker GCASH.
Mynt said the exact timetable remains subject to approvals from the Philippine Securities and Exchange Commission and the PSE, as well as market conditions and other customary considerations.
A record-scale deal
The base offering of P53 billion covers 8,027,409,600 common shares. Monde Nissin’s 2021 IPO raised P55.89 billion and is currently the largest listing in the Philippines. If the overallotment option is fully exercised, Mynt could raise up to P60.9 billion, which Mynt said would make it “the largest for the Philippine Stock Exchange.”
Morgan Stanley, JP Morgan Securities, and UBS Singapore are underwriting the transaction. Mynt said the listing drew “strong demand from major foreign and domestic institutional investors” and was “oversubscribed by multiple times.”
Mynt also said more than 20 global and local institutions, including funds and accounts managed by relevant BlackRock subsidiaries, the International Finance Corporation, and the trust units of BPI and Metrobank, account for 70% of the allocation.
The business behind the offer
GCash recorded 41.5 million monthly active users in the second quarter of 2026 and generated net income of 17.25 billion in 2025, up 55% from the previous year. Mynt first filed its application with the PSEC in June. The application was approved in September with the price outlined at up to P10 per share.
What this means for BPO clients and providers
GCash has 41.5 million monthly active users, so even a small share of them contacting support about a deal this size could add real volume. Putting an IPO order inside a wallet app brings share buying to customers who might never have used a securities service, and many will turn to support channels with questions.
Institutions hold 70% of the allocation, and orders beyond the first 100 shares are subject to availability, so retail buyers are competing for a smaller pool of shares. Some customers might receive fewer shares than they ordered. The October 20 listing might bring a second round of questions as prices begin to move.
Mynt’s raise will likely fund growth, which means more onboarding, KYC checks, fraud review, and support volume at GCash and at competitors trying to keep up. Wallet-based investing also introduces new contact types, such as allocation questions, failed orders, and refunds, that require agents trained in the basics of securities.
Fintech clients should check whether their support partners can scale and handle these inquiries, while BPO providers with financial services experience have a clear opening to offer compliance-ready teams.
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Abris, E. J. B. (2026, October 6). Mynt offers first 100 IPO shares in real time via GCash. Inquirer.net. Retrieved from https://business.inquirer.net/614496/mynt-offers-first-100-ipo-shares-in-real-time-via-gcash
Pathe, T. (2026, October 8). Mynt locks in $7bn valuation as blockbuster IPO opens to the public. Fintech Futures. Retrieved from https://www.fintechfutures.com/stock-exchange-ipos/mynt-gcash-ipo
Lema, K., & Ngui, Y. (2026, October 6). Mynt opens $844 million Philippine IPO, offers GCash users real-time share allocation. Reuters. Retrieved from https://www.reuters.com/world/asia-pacific/mynt-opens-844-million-philippine-ipo-offers-gcash-users-real-time-share-2026-10-06/
