Mynt, the Globe-backed company that operates GCash, has set the final price of its initial public offering (IPO) at ₱6.60 a share — about 34% below the ₱10 ceiling it had disclosed to regulators — according to a Reuters report carried by The Manila Times. The pricing was reported on October 1 and sets up a public offer period running October 6 to 12, with a planned debut on the main board of the Philippine Stock Exchange (PSE) on October 20.
At ₱6.60, the fintech company would enter the market valued at about ₱441.5 billion (around $7 billion), Reuters reported, as carried by Entrepreneur Asia — well under the roughly ₱669 billion valuation that the ₱10 ceiling implied.
The offer at ₱6.60: what is on the table
- 8.03 billion firm shares — 1.61 billion newly issued shares plus 6.42 billion secondary shares sold by existing shareholders
- About ₱53 billion in base proceeds
- An overallotment option covering up to 1.2 billion additional secondary shares, which would lift total proceeds to about ₱60.9 billion if fully exercised
- Public offer period: October 6 to 12, 2026
- Listing: October 20, 2026, on the PSE main board
An overallotment — sometimes called a greenshoe — lets the deal's underwriters sell extra shares and later buy them back, which helps steady the stock price in its first weeks of trading.
Why the price landed so far below the ceiling
The ₱10 figure was always a maximum, not a promise. Still, the final number came in below even the ₱7.50 to ₱8.50 range that analysts had floated days before pricing, which we covered in our earlier report on the expected price. At ₱6.60, Mynt would be valued at about 25.6 times its 2025 earnings, against almost 39 times at the ceiling — a meaningful discount that makes the stock easier to defend in a market where big listings have struggled.
One caution on sourcing: the ₱6.60 price comes from Reuters, which cited people familiar with the deal. Mynt itself has not confirmed the figure. The company said it is "unable to comment on market speculation" and that "stakeholders should refer to official announcements only." The number to treat as final is the one that appears in the official offer documents before October 6.
Cornerstone investors have already committed ₱36.5 billion
More than a dozen institutional investors have agreed to take up shares worth about ₱36.5 billion in aggregate, per the Reuters report. The international names include Capital Research and Management, Citadel Multi-Strategy Equities Master Fund, FIL Investment Management (Hong Kong), HSBC Global Asset Management, the International Finance Corp. and Lazard Asset Management. Domestic cornerstones include ATRAM Trust, BPI Asset Management and Trust, and China Bank Capital.
Cornerstone investors commit to buying before the public offer opens, which signals institutional confidence in the deal. When Mynt opened its order books in late September, the offer had been marketed as a record ₱92.32-billion listing at the ceiling price — our coverage of the book-opening has the details of that earlier stage.
What the lower price means if you plan to subscribe
For retail Filipino investors, the practical effect is a cheaper entry ticket into the country's dominant e-wallet operator. A board lot's cost scales directly with the offer price, so a ₱6.60 entry costs roughly a third less than the ₱10 worst case many had budgeted for. The lower valuation also leaves more room for the stock to perform after listing — the usual reason bankers price below the ceiling rather than squeeze out the maximum.
The dates to mark: the public offer runs October 6 to 12, and the shares are expected to start trading on the PSE on October 20. If you intend to participate, read the final offer documents first — the figures above are Reuters' reporting, not yet Mynt's own official confirmation.
