BUSINESS

Global funds circle GCash IPO

Maria Bernadette Romero · Sep 24, 2026, 1:59 AM

THE much-anticipated blockbuster Mynt Inc. initial public offering is reportedly perking up interest among major global investment establishments, like BlackRock, Schroders, the Capital Group, and the IFC, all of which are said to be looking to secure shares at around P6.50 apiece, below Mynt’s maximum offer price of P10, ahead of final pricing on 1 October. — DAILY TRIBUNE IMAGES

Some of the world’s biggest investment names are circling Mynt Inc.’s blockbuster initial public offering (IPO), offering a rare shot of momentum for a Philippine stock market starved of major listings.

The GCash operator has drawn interest from the International Finance Corp., BlackRock, Capital Group and Schroders, according to Bloomberg, as it gears up for what is expected to be the largest IPO in Philippine history.

Looking to secure shares

The institutions are reportedly looking to secure shares at around P6.50 apiece, below Mynt’s maximum offer price of P10, ahead of final pricing on 1 October.

Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., called the interest “a major vote of confidence not only in GCash but also in the long-term digital economy story of the Philippines.”

IPO comes at a critical time

“The fact that the IPO is being priced below the maximum suggests management is prioritizing a successful and sustainable market debut over chasing valuation, which is a prudent move given current market conditions. More importantly, this IPO comes at a critical time for the Philippine capital market, which has struggled with low trading activity and a limited pipeline of listings,” Ravelas said.

Mynt plans to sell up to 13.8 percent of its post-IPO ownership. Its base offer covers 8.027 billion shares — 1.61 billion primary and 6.42 billion secondary shares — equivalent to about 12 percent of its outstanding capital stock.