MYNT, the fintech company behind GCash, officially began trading on the Philippine Stock Exchange (PSE) on October 20 in a landmark development for the country’s digital financial services sector and capital markets.
Listed under the ticker symbol GCASH, Mynt opened at ₱6.60 per share, placing its initial market valuation at approximately ₱442 billion.
The company’s initial public offering (IPO) generated about ₱53 billion from the sale of 8.03 billion shares at ₱6.60 apiece.
If the overallotment option for another 1.20 billion secondary shares is fully exercised, the total offering could increase to approximately ₱60.9 billion, potentially establishing a new record for the largest IPO in Philippine history.
President Ferdinand Marcos Jr. attended the ceremonial opening bell alongside leading business executives and representatives of the country’s capital markets.
The attendees included Ayala Corporation chairman Jaime Augusto Zobel de Ayala, president and CEO Cezar Consing, Mynt Chairman Ernest Cu, Mynt president and CEO Martha Sazon, and PSE President and CEO Ramon S. Monzon.
The stock market debut transforms Mynt from a privately owned fintech enterprise into a publicly listed company, opening the door for investors to participate in the business behind one of the Philippines’ most popular digital financial platforms.
Sazon described the occasion as a pivotal moment in the company’s development, saying it ushers in a new phase of growth as a publicly traded enterprise.
She credited GCash’s success to its ability to build a profitable, large-scale business around the financial needs of ordinary Filipinos.
In the years ahead, Mynt plans to strengthen customer engagement throughout its digital ecosystem, pursue technology-led expansion, and create lasting value for its shareholders.
Cu reflected on GCash’s 22-year journey, from its beginnings as an SMS-based money transfer service to its emergence as a major player in digital financial services.
He said Mynt’s listing underscores the ability of Philippine technology companies to grow into large-scale enterprises.
He also emphasized that continued success will depend on responsible corporate governance, consistent execution, and a long-term strategic vision. PHOTO COURTESY OF WE ARE GCASH
