Mynt, parent company of GCash, attracts over 20 cornerstone investors for what could be the Philippines' largest IPO
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Published on 23/09/2026 at 17:46 - Modified on 23/09/2026 at 17:52 Contact us for any correction requests Mynt, the parent company of Philippine mobile wallet GCash, has succeeded in attracting more than 20 cornerstone investors, including BlackRock and T. Rowe Price, for its upcoming initial public offering (IPO), according to a preliminary prospectus seen by Reuters. The IPO could raise up to 80.3 billion Philippine pesos (1.3 billion US dollars), making it the largest share sale in Philippine history if priced at the top end of the range. This would surpass the 55.89 billion Philippine pesos raised by Monde Nissin's IPO in 2021. This transaction would provide a much-needed boost to the Philippine equity market, where companies have raised only 227.1 million US dollars through capital market operations so far this year, according to LSEG data. Cornerstone investors have agreed to acquire shares worth 36.5 billion Philippine pesos in the offering, as shown in the preliminary prospectus dated September 22. These investors include Capital Research and Management Company, Citadel Multi-Strategy Equities Master Fund Ltd, FIL Investment Management (Hong Kong), HSBC Global Asset Management, International Finance Corporation, and Lazard Asset Management, among others. On the domestic side, the preliminary prospectus details the participation of entities such as ATRAM Trust...
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