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GCash Parent Mynt Makes PSE Debut in Record P60.9-B IPO - BusinessWorld Online
More than 20 cornerstone investors, including BlackRock and Citadel, committed about 36.5 billion pesos before the public offer opened.
- On Tuesday, October 20, Mynt, the parent company of GCash, listed on the Philippine Stock Exchange after raising 60.9 billion pesos in the country's largest initial public offering, with President Ferdinand Marcos Jr. in attendance.
- Mynt president and CEO Martha Sazon said the platform is part of Filipinos' "everyday lives," serving 41.5 million monthly active users—nearly 56 per cent of the country's adult population as of June 30.
- Investor demand was strong, with PSE president Ramon Monzon noting stockbrokers placed orders for more than 2.65 billion shares against their 1.6 billion allocation, equivalent to 165.5%.
- About 140,725 GCash subscribers, many first-time investors, used the app to invest about 1.1 billion pesos, while shares opened at 6.63 pesos, up 0.5 per cent from the 6.60-peso offer price.
- Mynt plans to allocate 60% of primary offering proceeds to expand its CreditTech business, a move analysts believe could boost fintech profile in a country where more than 40% of the population lacks traditional bank accounts.
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13 Articles
The Straits TimesReposted by 
Free Malaysia Today News
Free Malaysia Today NewsPayment giant Mynt boosts Philippine market hopes with IPO record
Analysts said the listing could significantly raise the fintech profile of the country. Read more at straitstimes.com.
·Singapore, Singapore
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Coverage Details
Total News Sources13
Leaning Left3Leaning Right5Center1Last UpdatedBias Distribution56% Right
Bias Distribution
- 56% of the sources lean Right
56% Right
L 33%
11%
R 56%
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