The GCash IPO became the largest initial public offering in Philippine Stock Exchange history on October 20, 2026, as parent company Mynt began trading under the ticker GCASH. Shares closed at 6.60 Philippine pesos, unchanged from the offer price, despite rising during the session.
Key Takeaways
- The PSE reported a record 60.9 billion-peso offering, including primary and secondary shares.
- Mynt shares finished their first session at the offer price of 6.60 pesos.
- Some 140,725 GCash subscribers invested about 1.1 billion pesos through the app.
Table of Contents
- GCash IPO breaks the Philippine offering record
- Retail access broadens, but shares finish unchanged
- Lending and investment services are the next expansion focus
- Conclusion
GCash IPO breaks the Philippine offering record
The PSE’s Mynt listing announcement put the offering at 60.9 billion pesos, surpassing Monde Nissin’s 52.2 billion-peso IPO in 2021. The exchange said Mynt entered the market with a capitalization of 441.51 billion pesos, making it the seventh-largest domestic company listed on the PSE.
The final transaction figure requires a distinction from the original offering terms. At pricing, approximately 8.03 billion firm shares at 6.60 pesos represented about 53 billion pesos, with the total potentially reaching 60.9 billion pesos if the over-allotment option was fully exercised. The exchange’s listing announcement reported the larger total but did not separately detail the option’s exercise.
The offering included both newly issued shares and shares sold by existing holders. Consequently, the headline deal size is not the amount available to Mynt to spend on its business. The PSE said proceeds from the primary share sale would support digital financial services growth, product development and general corporate purposes.
| Item | Details |
|---|---|
| Domestic offer period | October 6–12, 2026 |
| First-day intraday high | 6.76 Philippine pesos per share |
| First-day trading volume | 650.33 million shares |
| First-day trading value | 4.33 billion Philippine pesos |
Retail access broadens, but shares finish unchanged
GCash subscribers invested through GStocks PH, the stock-trading platform operated by AB Capital Securities within the app. The IPO allowed participation starting at 100 shares, costing 660 pesos at the offer price.
President Ferdinand Marcos Jr., who attended the listing ceremony, highlighted the ability of ordinary Filipinos to invest using the same phones they use for payments and money transfers. The retail channel connected Mynt’s existing customer base directly with its stock-market offering.
Institutional demand was also substantial. Mynt said that tranche was multiple times oversubscribed, while the transaction secured 20 cornerstone investors. Strong demand for allocations nevertheless did not translate into a first-day closing gain: the stock ended where it opened, at 6.60 pesos.
Lending and investment services are the next expansion focus
Mynt said it plans to use net proceeds primarily to expand digital financial services, particularly its CreditTech and WealthTech offerings. Its GCash platform already spans payments, transfers, lending, savings, investments and insurance.
The business had 41.5 million monthly active users during the three months ended June 30, 2026. GCash users completed payment transactions worth 9.84 trillion pesos in the first half of the year.
For the six months ended June 30, Mynt reported revenue of 43.27 billion pesos, up 10.4% from a year earlier, and net income of 10.82 billion pesos, up 7.3%. Those results show revenue growing faster than profit ahead of the listing; they are historical results, not post-IPO guidance.
Conclusion
With the listing completed, attention turns to Mynt’s stated plans to expand lending and investment services. Future financial disclosures will show how that expansion develops; the record offering itself did not produce a first-day closing premium for shareholders.
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This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
