If you ordered Mynt shares through GStocks PH, the waiting game has started: the record ₱53-billion GCash IPO closed its public offer on October 12, and the shares begin trading on the Philippine Stock Exchange (PSE) on Monday, October 20, under the ticker GCASH. Between now and listing day, the GCash app — not the stock market — is where the action is: final allocations, the return of unused funds, and your first chance to sell.
The offer has closed — allocations come next
Mynt Inc., the operator of GCash, set its final offer price at ₱6.60 a share, which put the minimum 100-share retail order at ₱660, GMA News reported. The base offer of more than 8 billion shares is worth about ₱53 billion, and if an overallotment option covering up to 1.2 billion secondary shares is fully exercised, the deal raises about ₱60.9 billion — the largest initial public offering in Philippine history, according to Daily Tribune.
Institutions moved first. More than 20 global and local names — including funds managed by BlackRock subsidiaries, the International Finance Corp., BPI Asset Management and Trust Corp., and Metrobank's trust banking group — took about 70% of the allocation. The retail offer ran from October 6 to 12 inside the GCash app through GStocks PH, the stock service powered by AB Capital Securities, which we walked through in our guide to the ₱660 minimum order.
One number is still missing: as of publication, Mynt has not announced how the retail tranche closed, so there is no official word yet on whether small investors oversubscribed their portion of the deal.
What to check on your GStocks dashboard
Your GStocks PH dashboard shows where each order stands: fulfilled, pending, or unfulfilled. The offer rules reported by Daily Tribune decide which bucket you land in:
- Orders placed on October 6 or 7 had their first 100 shares allocated in real time, while supply lasted.
- Shares beyond the first 100 are processed first-come, first-served, subject to availability.
- Final allocations are set only after the offer period — which is now. If demand exceeded the shares available to AB Capital, oversubscribed orders are not guaranteed.
- Unused funds are returned. Money behind unfilled or partly filled orders comes back to you.
The math is simple to check: every 100 shares cost ₱660 at the final price. If you placed a ₱6,600 order for 1,000 shares and only 400 are marked fulfilled, the remaining 600 shares' worth — ₱3,960 — should come back to you.
Key dates
| Date | What happens |
|---|
| October 6–12 | Public offer through GStocks PH (now closed) |
| October 8 | Order fulfillment began |
| After October 12 | Final allocations set; unused funds returned |
| October 20 | Shares list on the PSE Main Board as GCASH |
What October 20 actually changes
Listing day is the first time you can sell the shares you were allocated — or buy more at the market price. From October 20, GCASH trades like any other PSE stock: the price is set by buyers and sellers, not by Mynt, and it can open above or below the ₱6.60 offer price. No one can honestly promise a first-day gain. The listing covers about 12% of Mynt's outstanding capital stock, per GMA News' earlier report — background on that first-of-its-kind float is in our story on the SEC clearance.
If your order was not filled, you can still buy GCASH on the open market from October 20 — at the market price plus broker fees, not the ₱6.60 offer price. Until then, watch two places: your GStocks PH dashboard for allocations and refunds, and the PSE's disclosures for the final offer results ahead of Monday's debut.
