Mynt Inc. (Globe Fintech Innovations, Inc.), the operator and parent company of mobile wallet platform GCash, has finalized the offer price for its upcoming initial public offering (IPO) at P6.60 per common share, bringing the total potential deal size to roughly P60.9 billion.
In a formal disclosure to the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC), the fintech firm confirmed it will offer 8.03 billion primary common shares to the public. The offering also includes an overallotment option for up to 1.2 billion secondary common shares.
At P6.60 per share, the primary offering stands to raise about P53 billion. If the stabilizing underwriters fully exercise the overallotment option, total gross proceeds could reach P60.9 billion, positioning the transaction as the largest equity initial public offering in Philippine capital market history.
The final pricing represents a 34 percent discount from the P10.00 maximum offer price ceiling initially filed in Mynt’s registration statement, a move market analysts view as a strategic adjustment to ensure strong secondary market uptake amid broader equities market volatility.
Domestic underwriting for the share sale is led by BPI Capital Corp., BDO Capital & Investment Corp., AB Capital Securities Inc., and First Metro Investment Corp. as joint local underwriters and bookrunners.
The international tranche is managed by Jefferies Singapore Ltd., CLSA Ltd., and HSBC Singapore as international joint bookrunners, with Morgan Stanley, J.P. Morgan, and UBS Singapore serving as joint global coordinators.