Mynt, the fintech company that operates GCash, took a concrete step toward a public listing on June 17, 2026, when its board of directors and shareholders authorized the filing of a registration statement with the Philippine Securities and Exchange Commission and a listing application with the Philippine Stock Exchange.
The Offering
The proposed IPO would represent 12% of Mynt's total outstanding capital stock after listing, structured as a combination of primary and secondary shares with a par value of PHP 0.03 per share. Mynt has hired Citibank, Jefferies, and UBS to manage the transaction, and sources familiar with the deal peg the target raise at up to $1.5 billion — which would make it the largest IPO in Philippine history.
Globe Telecom, one of Mynt's key shareholders, separately disclosed the authorization in filings consistent with Philippine corporate governance requirements.
The Company Behind GCash
Mynt was founded in 2015, though GCash itself traces its origins to a 2004 SMS-based remittance service. The platform has since grown into what the company calls the Philippines' largest cashless ecosystem, offering payments, lending, insurance, and investment products. Mynt counts Ant Group (the Jack Ma-linked financial arm of Alibaba), Mitsubishi UFJ Financial Group, and Ayala Corp's Globe Telecom among its major shareholders.
Mynt President and CEO Martha Sazon framed the authorization as a growth milestone: "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."
What Comes Next
The authorization is the beginning of a formal process, not a done deal. The listing remains subject to SEC registration requirements, PSE approval, market conditions, governance clearances, and other customary conditions. Mynt said additional disclosures will follow at the appropriate time.
The potential IPO comes as Philippine fintech broadly matures — and as GCash competition from digital banks and rival e-wallets has intensified. A public listing would give Mynt fresh capital and a public valuation benchmark at a critical moment in the sector's development.
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