THE Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of Mynt, operator of e-wallet GCash, potentially valuing the offering at up to P92.32 billion in what would be the first listing to use the regulator’s lower public float rule for large issuers.
The SEC said on Thursday, Sept. 3, 2026, that its Commission En Banc had approved the registration statement covering up to 66.9 billion common shares, subject to the completion remaining requirements.
Mynt was granted a minimum initial public float of 12 percent, below the standard 15 percent, under new rules allowing lower floats for companies with exceptionally large expected market capitalizations.
Mynt expects a market capitalization of P668.96 billion upon listing, above the P200-billion threshold.
The offer comprises up to 1.61 billion primary shares and 6.42 billion shares from a selling shareholder, priced at up to P10 each. An overallotment option covers up to 1.20 billion shares.
Mynt expects net proceeds of about P14.95 billion from the primary offer to fund the expansion of its digital financial services, product development and general corporate purposes.
The offer is scheduled for Oct. 6-12, with listing on the Philippine Stock Exchange’s Main Board on Oct. 20 under the ticker “GCASH.” / KOC