Mynt, Inc.'s ₱60.9 billion IPO set a Philippine fundraising record, but shares in the GCash parent finished their Oct. 20 debut at the ₱6.60 offer price, Reuters and GMA News reported.
The stock reached ₱6.76 during trading, then gave up that rise before the session ended. The Philippine Stock Exchange (PSE) said the offering surpassed the previous Philippine IPO record, set by Monde Nissin Corp. in 2021.
Exchange terms show that existing holders sold 6.42 billion shares in the 8.03 billion-share firm offer. Mynt issued the other 1.61 billion shares. The terms also allowed for up to 1.20 billion additional shares to be sold by existing holders.
Only the newly issued shares raised capital for Mynt; proceeds from shares sold by existing holders go to those shareholders. The PSE said Mynt plans to use funds from its primary share sale to expand its digital finance offerings, develop products and meet broader company needs.
The exchange put Mynt's listing-day market value at ₱441.51 billion, ranking it seventh among domestic companies on the PSE. Mynt's prospectus reported 41.5 million monthly active GCash users for the three months ended June 30, equivalent to nearly 56% of the Philippine adult population. It recorded ₱9.84 trillion in payment transactions during the first half of 2026.
The PSE said 140,725 GCash subscribers bought about ₱1.1 billion in shares through the app.
