GCash targets raising $845 million in landmark Philippine IPO; trading to begin on October 20
One of Southeast Asia’s largest technology offerings has entered its decisive phase after Mynt, the operator of the Philippines’ GCash digital wallet, set the price of its initial public offering at 6.60 pesos per share in a deal targeting proceeds of about 53 billion pesos, equivalent to approximately $844.7 million.
According to Reuters, the offering includes the sale of up to 8.03 billion shares, while proceeds could rise to about 60.9 billion pesos, or approximately $970.6 million, if an option to sell an additional 1.2 billion shares is exercised. The company’s shares are scheduled to begin trading on the Philippine Stock Exchange on October 20, 2026, following an investor meeting scheduled to take place in Makati on October 6.
Major investors join the offering
The offering has attracted interest from international and local investment institutions. According to publicly disclosed information, entities including Capital Research and Management, Citadel, HSBC Global Asset Management, the International Finance Corporation and Lazard Asset Management have committed to purchasing shares worth a combined total of approximately 36.5 billion pesos before the public sale, alongside local investors.
These commitments provide an important boost to the deal, particularly in a Philippine market that saw relatively limited equity fundraising activity during the first nine months of 2026. If completed as planned, the offering would be one of the largest IPOs in Philippine history and could restore momentum to the local IPO market.
GCash: From digital wallet to the stock exchange
Mynt operates GCash, one of the Philippines’ leading digital wallets, offering payments, transfers, credit and other digital financial products. The company had been paving the way toward a listing in recent months, including securing approvals related to its capital structure and announcing in September commitments from cornerstone investors for the proposed offering.
Mynt’s official newsroom indicates that the company announced on September 24, 2026, that it had secured commitments from global and local investors for the offering, in line with its transition from the preparation stage to pricing the deal. This comes as investor appetite grows for fintech companies with large user bases and expanding digital payments activity.
Why does this offering matter to regional markets?
Mynt’s deal is significant beyond the Philippines: it offers a new indication of Asian fintech companies’ ability to access public capital markets after years of relying on private funding rounds. It also comes amid notable activity in fintech IPOs in other emerging markets.
Earlier today, Break Media News covered MNT-Halan’s preparations to offer 20% of its shares in Egypt, reflecting the widening wave of fintech companies moving from private-sector growth to testing investor valuations on stock exchanges.
What comes next?
Attention now turns to the investor meeting on October 6 and then to the scheduled start of trading on October 20. Final demand levels and the stock’s performance after listing will be an important test of investors’ assessment of GCash’s business model and the extent to which appetite for major technology IPOs in the region has returned.
Sources: Reuters, October 2, 2026; Mynt’s official newsroom, September 24, 2026.
The featured image is illustrative of digital payments and is not from the IPO event. Credit: Jonas Leupe / Unsplash.
