# Mynt's Record-Breaking IPO Raises PHP 60.9 Billion on Philippine Stock Exchange

> Mynt, the parent company of GCash, made history on October 20, 2026, with the largest Initial Public Offering in the Philippines, raising PHP 60.9 billion.

By PrimaryBrief newsroom · Published 2026-10-20T20:21:32.656834Z
Canonical: https://primarybrief.com/article/mynt-s-record-breaking-ipo-raises-php-60-9-billion-on-philippine-stock-exchange-bfbf58c9

Mynt, the parent company of the digital wallet GCash, debuted on the Philippine Stock Exchange (PSE) on October 20, 2026, with an Initial Public Offering (IPO) that raised PHP 60.9 billion, equivalent to approximately $960 million to $971 million [2][10][11][16]. This offering became the largest IPO in Philippine history, surpassing Monde Nissin's 2021 IPO, and was Southeast Asia's biggest for the technology, media, and telecommunications (TMT) sector since 2021 [6][15].

The successful IPO shows investor confidence in the Philippine economy and its growing digital finance sector. It also broadened investment access for many Filipinos, including more than 140,000 GCash subscribers who invested directly through the app [14][22].

## What the records show

Mynt, officially named Globe Fintech Innovations, Inc., operates GCash, which is recognized as the Philippines' largest finance app [18]. As of June 2026, the company served 41.5 million monthly active users, representing approximately 56% of the Philippine adult population [24]. Mynt reported a net income of PHP 17.25 billion in 2025 and PHP 10.82 billion for the first half of 2026, indicating profitability [24]. The IPO was priced at PHP 6.60 per share, valuing Mynt at approximately $7 billion [9]. Earlier estimates in September 2026 had suggested a potential valuation of up to $10.9 billion [17]. On its first trading day, Mynt's shares closed flat at the IPO price, influenced by weak market sentiment [7][13][20].

## The timeline

The offer period for Mynt's IPO ran from October 6 to October 12, 2026 [8]. The shares were officially listed and began trading on the Philippine Stock Exchange on October 20, 2026 [2][8].

## What changed and for whom

The IPO attracted significant global interest, with nearly 200 institutional investors participating, including major firms such as BlackRock and Fidelity [3][4]. Approximately 140,725 GCash subscribers also invested about PHP 1.1 billion through the GCash app; many of these were first-time investors [22]. Mynt plans to use the capital raised to fund growth in its digital financial services business, for product development, and for general corporate purposes [23]. The company's Head of Capital Markets and Investor Relations, Joseph Samuel Tang, stated Mynt's goal is to have digital financial services contribute equally to revenue alongside payment solutions in the medium term [5].

## What the subject has said publicly

Philippine President Ferdinand Marcos Jr., who attended the bell-ringing ceremony, highlighted the IPO's role in making investment opportunities more accessible to Filipinos [14]. He noted its timing was important for renewing investor interest and broadening participation in the stock market [14]. PSE President Ramon Monzon lauded the IPO as a record-breaking event, showing confidence in Mynt, the Philippine economy, and its capital markets [21]. Mynt President and CEO Martha Sazon stated the listing marked a new phase in expanding access to financial services [23].

## What we could not confirm

We could not confirm the long-term stock performance of Mynt beyond its initial trading day. We also could not confirm the specific metrics or timelines for Mynt's planned growth in digital financial services and product development using the IPO proceeds.

## Evidence cited
1. Ant-Backed Fintech Mynt Rises in Debut After Philippines’ Largest IPO (www.wsj.com) — https://www.wsj.com/tech/ant-backed-fintech-mynt-rises-in-debut-after-philippines-largest-ipo-de6a772d?mod=rss_markets_main
2. Philippines' GCash parent Mynt debuts with largest IPO in history (Xinhua News Agency) — https://news.cn/english/20261020/ff8f9a2b5e284a148a0a2c3a521c7d81/c.html
3. Global investors snag most of GCash IPO (Manila Bulletin) — https://mb.com.ph/2026/10/20/global-investors-snag-most-of-gcash-ipo/
4. GCash's P61-Billion IPO Draws Global Investors (InsiderPH) — https://insiderph.com/gcashs-p61-billion-ipo-draws-global-investors/
5. Mynt seeks to boost revenues from lending, investment products (BusinessWorld Online) — https://www.bworldonline.com/corporate/2026/10/20/731110/mynt-seeks-to-boost-revenues-from-lending-investment-products/
6. GCash parent Mynt debuts on PSE with largest IPO in history (GMA Network) — https://www.gmanetwork.com/news/money/companies/1004652/gcash-parent-mynt-debuts-on-pse-with-largest-ipo-in-history/
7. Fintech Mynt (GCash) Philippines' largest IPO debuts, shares close flat (Channel News Asia) — https://www.channelnewsasia.com/business/fintech-mynt-gcash-philippines-largest-ipo-debut-shares-3388701
8. Listing Notice: Mynt IPO (Philippine Stock Exchange) — https://www.pse.com.ph/listing-notices/?id=22728
9. Mynt locks in $7bn valuation as blockbuster IPO opens to the public (FinTech Futures) — https://www.fintechfutures.com/2026/10/mynt-locks-in-7bn-valuation-as-blockbuster-ipo-opens-to-the-public/
10. GCash's Mynt secures $965.7m in Philippines' largest ever IPO (Asian Banking & Finance) — https://asianbankingandfinance.net/retail-banking/news/gcashs-mynt-secures-9657m-in-philippines-largest-ever-ipo
11. Mynt raises $967m in Philippines' biggest ever IPO (Finextra) — https://www.finextra.com/newsarticle/42600/mynt-raises-967m-in-philippines-biggest-ever-ipo
12. Mynt's US$1.19B IPO ushers in a new era for Philippine fintech (Dealroom) — https://dealroom.co/news/mynts-us1-19b-ipo-ushers-in-a-new-era-for-philippine-fintech
13. GCash Parent Mynt Ends Flat On Debut After Philippines' Record IPO (Forbes) — https://www.forbes.com/sites/forbesasia/2026/10/20/gcash-parent-mynt-ends-flat-on-debut-after-philippines-record-ipo/
14. Philippine President Marcos Jr hails largest ever IPO (Channel News Asia) — https://www.channelnewsasia.com/business/philippine-president-marcos-jr-hails-largest-ever-ipo-3860821
15. Mynt's $1 Billion IPO Set to Be Southeast Asia's Biggest Listing This Year (KuCoin) — https://www.kucoin.com/news/mynts-1-billion-ipo-set-to-be-southeast-asias-biggest-listing-this-year
16. Philippines: GCash parent makes record-breaking stock market debut (Kuwait Times) — https://www.kuwaittimes.com/business/philippines-gcash-parent-makes-record-breaking-stock-market-debut/
17. Mynt's IPO price and valuation for GCash in the Philippines (Quartz) — https://qz.com/mynt-gcash-philippines-ipo-price-valuation-1850893323
18. Mynt IPO (Renascence) — https://renascence.io/news/mynt-ipo/
19. Philippine Fintech Unicorn Mynt Gets Nod for Country's Largest Ever IPO (Morningstar) — https://www.morningstar.com/news/dow-jones/20260918-philippine-fintech-unicorn-mynt-gets-nod-for-countrys-largest-ever-ipo
20. GCash parent Mynt makes record-breaking stock market debut (The Philippine Star) — https://www.philstar.com/business/2026/10/20/2625078/gcash-parent-mynt-makes-record-breaking-stock-market-debut
21. Mynt's Historic IPO Was A Win For... (Eric Jurado on Substack) — https://ericjurado.substack.com/p/mynts-historic-ipo-was-a-win-for
22. GCash debuts at PSE with largest IPO in PH history (ABS-CBN News) — https://news.abs-cbn.com/business/2026/10/20/gcash-debuts-at-pse-with-largest-ipo-in-ph-history
23. Marcos leads landmark GCash IPO listing at PSE (ABS-CBN News) — https://news.abs-cbn.com/news/2026/10/20/marcos-leads-landmark-gcash-ipo-listing-at-pse
24. 2025 net income: ₱17.25 billion, up from ₱6.38 billion in 2023. 2023–2025 earnings growth: Approximately 39% compound annual growth rate (CAGR). First-half 2026 net income: ₱10.82 billion, up 7.3% year-on-year. Monthly active users: 41.5 million as of June 2026, equivalent to approximately 56% of the Philippine adult population. Return on equity (ROE): ... GCash has several characteristics that make it worth examining through this lens: a large user base, expanding financial services, the potent (substack.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHzvS4aq4yC9FaMPYNv5G0DlbhXBOF6CQhnCOmwHv6aKwq_rr8_sHXkSEYNNUQrbrDS84-IEYM_yv6H4ePgSorT511hQYIbcImWVWVxMjOfCQG6SnnsqgTVub0jFCixLOdu_hLr_w31DvI55zz56q7iXhtYX7jMcdNsZXzUQHo_H2hgmEbPELYUlknqIudd3_k=
25. Ant Group and Globe-backed Mynt, which operates the e-wallet GCash, has been on a winning streak. Long one of the Philippines' most valuable startups, its valuation jumped to US$5 billion in August – more than doubling its previous valuation of US$2 billion that it reached in 2021 – following a combined US$800 million capital injection from Japan's MUFG and the Philippine conglomerate Ayala. The new funding for Mynt comes at a time when large fintech investments are hard to come by given high in (atlstech.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHY2naWGeWh2aSWTV5DbvCel15NgtOvDkX2qRX0wxjv7ohhpxnDjf0NenHPqxRbWScfgP0QnRYTtpCcAGmpSP1BfLdX2OZSSvMqp3jr1T1gK6EGvi2Ub_674ZJWUnGb_tXLTCEVaYaRFyrXFdnqY1gvPpAi84daJPgeHtdxZLbgXRBdlijscJm6ynhSepznAIndXMAXiinNWlEJUrz_n8bZZKB6wHt6zTjcl_mSjyGnolREuVTAHbSz
26. GCash parent Mynt debuts on PSE with largest IPO in history (GMA Network) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH4Cs2CPW2CQZuSVj6p2uKK25M78qARAziDpTSDWgVSyUlipyZxZYDWWp1Q_26f39XomYAyEGqKe4SotF0zeufkk3JAYwgpEqbZjb-PTCdTaKuFhN2jnO_jdww7LGQcvia-veiWptf_hxL4FmPjNsr9g89wdsHoandffENDoIi6RdZxGq30Na8ZI_50J9GN_xJPIMnQbySOHvL6TK-JSJXYEAmWNmbiEZg-AH1vf1u-UWczeBBoXg==
27. GCash parent Mynt makes record-breaking stock market debut (The Philippine Star) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHB96thGnJQFpcNn3n3tYYc1pfKsyjC4TdmWPZyyrOQ5zq6rKLZkOmmbzFcjdHt47Edz2zPniMAm46jt-VSFMvDPqGAa_kYsGF06N_Y5u4aP-deKzHm2yX8KVdK3jBLLTrznNipgeYBQamD-sSrGrouqZ0_86M-lVUfjrCSfJ8JboZiMMCIwdcBxFrzPc6igeaW1oqQX8lE5J3RA0mP25bK1RBEoAgtl36o9EY=
28. Mynt seeks to boost revenues from lending, investment products (BusinessWorld Online) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQED8DHxlYYW2I6MAQ2NdViuwCLGlHcRy1BCVHeU84DJmKt_HfG2vpJKNXjQgSEhRNvb2qgqfoZj__p_P2XKcZHP7QNHubfnl2s205pTzkH5cjADwVKbECrZ-9xUdSn-2gCXXGGVyR5HTs_Pl4lnw-gVwNDeqT5XbNHfWlTGggptq0Apyo3ZbJOC75yxPp8NVci65WehGBJkGX7C05yHsULU973sYprqQA3GGyDtYEP5
29. Mynt's Historic IPO Was A Win For... (Eric Jurado on Substack) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQECj4pz_u0kcTFlu0f9S5GjQ1_fOFN_vY4II_nSGbQ5Z33MHq3tggARiXa4eV4jjsb4XVZeda-b0z1aAntNzmu4CEOdszkhF0oiMV3f5sA-7XskjDqW5HLQRarMjZBeq58YIAocNBtS6ypVQC-8xmMkxndPua_h8b_skGGfsySYokIQzUSSmMN3e1lI6A==
30. GCash's IPO price and valuation for GCash in the Philippines (inquirer.net) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFzewBUKTUVPd_ry0kZiaFykNsenKyJk4WEHbebeZB8tQqCxPTq6D_VhTDMEq4z2nChiEVZcmLD2LPXDe33mikzWeIQMLRcOWL98fbiM5hAh3xg0cVwGIK0AGhBUpxNJ8ovYgjh8FbDIOnqUujmnAgwRcYBkDRFymMoJsAJP-Ce467mwL0dxmVZKWHnQaQAsd6tJ1iKCkhC0Zz4
31. Mynt, GCash's Parent, Climbs 2.1% in Record Philippine Debut After $966 Million IPO (biggo.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEzYa96x7OHdcQKjTY9eV6HMzD2cN0oVIDjDQzlwkL6evRqbM-_p7G5cl4Ao9Le7g6ITgDJyfCoHHTF4Cfdl-N33KfeMzZkCcyIcDhNrVB-8wZmbG-qbjUcJSASMJD1qsUzuf2boO4jl29lPUjRh9fhVE-ch-RooK6A8fQndyo=
32. Mynt's US$1.19B IPO ushers in a new era for Philippine fintech (dealroom.co) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGZA7Gta4OSDAAqDLaUmZMdmyNAu3BBND4lYntNcRbeLbZ_X7Hcye9elOrVtbnBk6YWKbs8BzGZSqUDLhPwiytbWJ3-iBMHL3nmNHx-yT2MC7aXM1O1dF7lNj1enrXd1d1cBj0tOm05OL974O_TJoEHe12TmsU57fj-AEbTxfN2Fb3vytc_mD5TaSxuz5YZfln-7Lz9iA==
33. Mynt's Historic IPO Was A Win For... (Eric Jurado on Substack) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHkSCAg52AhFBhJfrExrkE5HfvQLXD-ANiaMHYB1fvECe044qdQipja8PLQ0dH7nBTgwdLhP0mqnkNxyeZsWp1RRV0McFhXzrkUdUIPmMuBj9ffDUarJ8Y-OBadPi4qLgFHOst-gKXHr4HyvIQIAZ5euPA8TCS8Ft4u3MWt7GHmz_nONqykfWH5yX1N4ym8
34. Fintech Mynt (GCash) Philippines' largest IPO debuts, shares close flat (Channel News Asia) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFeiLJVmIAD2twX1WoIx0i31Pt0PkISu7lt6wTocxKRsHYbvbQs_MLbYgIXf9axatRLKKc68BJWX48dEjubVWFigV4wsQXbBQiU82QEtW-CAIujS7EsRvRT4ELSWyEpDnpb1rHC-qbOVT3ia2wdr_Xc-oEv5Wh0s9sKf2AZayhS8Aza4ZBfQ4euLtxtWaM=
35. GCash debuts at PSE with largest IPO in PH history (digg.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEFxVKhmV-p0q01wzoloDFiEoW1tYkVT3GvCc455xZPdgEl-IA1wQMrA-wutXmK-mwxxiMtJq8B8Sv9Dz4kG6LQEQcBHJnODtMbPd-Ai8fg3yOGWpFnnMMEsA==
36. Mynt IPO (unity-connect.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEFenN2zSAlE2E-2EdYiN9aX8dh_MXLOG_4GxHh1teUo4TdcvkmUqZ1DWq7W8oIqWulSRDIy-vbcaYTr1JkgPuB884tsiECzNIOxK87tFRXwoUOAEuxQnFHUybbYQRWherK7G552eq6XM4l5ZpHLJIWleZ-0BivnQ==
37. Philippines' GCash parent makes record-breaking stock market debut (freemalaysiatoday.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFV00JVGWqEeFX568hSSRoyImLQbgP7cd_A6dA7XuU1q_8wyNYuNEUMrDSeT1ePA6IdAnf1vxAGg6KIe7XvDxsaW2UUlA8F4cClnSR2UyZzs6qk7bQxDw36PF_e3M6lbwd5tq1g0cxtTclf52rGNCe1VvWORoLs-2Q4P8QrVc0tmaV8Su1nQ4hEogAT97zWlhfkh0m-kqQVfkarmDKDSkUK_OmNo-ex5zqqiIYlb0x-J2IaHYFaCWCujhqw5w==
38. Mynt records 41.5 million active monthly users for GCash; generated net income of PHP 17.25 billion in 2025 (fintechfutures.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH1Ylp8ohhBY6s9Ddyx743GfOjZZhgr539bPv7deg3ppspLJ9XwCDpsPs4tFAkVlopzrFey7bdiTMRvGkfI-Dn2KNdOeA2mR6n2mVGAABbjyFrUazSbm0bU2okUT0AGqMXMai_VNxfWhHO4LzPlvul0_mJ87slGhQ3LKfXI
39. GCash operator Mynt Inc. has built the country's top e-wallet into a formidable financial technology (fintech) platform that would be difficult and expensive for a potential new player to replicate from scratch, according to a hedge fund manager. “A competitor would not simply have to create another mobile wallet. It would have to build a comparable customer base, merchant network, financial infrastructure, brand, regulatory capabilities, and ecosystem of financial products,” said Eric Jurado, h (mb.com.ph) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHySjVKKGgvZalS4XcSM1oX7nj6tijbzagsIPAdf1lzmyGl1Moys0SeA9mYv5vMJrO6xFKFfh0_XpSWzYnNmMVu7icaEPRFLm8xs6vpWdld3diUgKQI-wAZwqxJBXxoSt_fryCXaVo05RYjvxiGC36Pl33IDqVe6lJ3JDJPzuC6UPLGd8NHYtYzpcgwBNzhjgrTPcCogN8PlukilQ==
40. Philippines: GCash parent makes record-breaking stock market debut (macaubusiness.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGzkvZKE-3De9xt_Uwc3jKGIGGJIO1BNbNHzz7zx5-djzivzdM_uRZSkYzuV-pzwkZrC1jWNxMqvYec2fdvJ-ZwLbAJuXIX46IyVcpNA7d3_3RRO-G-xcetkerVPQmEbgOrnGS3jW0ZT1cyiGPmVBUZmyE4I4JdkeDt26FcSjZzjrE3Sm2S5eMeLcGqd6f8AbspqkQQAdBo
41. GCash operator Mynt raises record $966m in Philippine IPO (asianbankingandfinance.net) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGPnla03vLNMhiLcjnXJspLBJ8ac3UD_is-8-pKUUzSjqz05GBZmT0KLxEYBK3uisfd29rlO_HwnbJ928zaceTsPk_TDjkEqJH9jechQA3baAVBjhqnaC9HgZeixY5gH5SZuO9IZRt3GHjHgM4pnwt51NttReSlUljDhDmpu8TZfqXYn4VyoZi-PtYm588u2g8dy60PemIKJVqZ5w==
42. Mynt's IPO: A Deep Dive into GCash's Record-Breaking Stock Market Debut (entrepreneur.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHPIZDi1pLI2NwAY__TJarLUlMN4N3T7IsmEdJWR5Rhjsx_FSMMq4uhBC5qzGPC2rMFFGhpjGx7UDBVKlgybAddL4Q6ren166wx5X3B_nIN40XhuDe2sEoUi1sBtyf3AADNO7ocnoTNck8784sQ8VrRU0C4cquUaslywueNz9RyahHhJHYYv51Ivm2oltb5tL8w4rdXfl-qpqjLYGOhqbGGjz5K
43. Mynt's Q2 2026 Net Income Reaches P10.82 Billion Amidst Strong Growth and Regulatory Changes (insiderph.com) — https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEoucVM8Vt0tLDEsfOdjEgrLrSqU1sXAMi0vYau-TjVaH8_3hZFRU__bl7mfFra5UHl_FCD76MFMORd87yh0hHNUcqO0vrOmd8xOL9KaywVSe86f-rqMo_xLgtl5ghT__kaiOrCrLScWTiSmMlZ7qRY3GepmCU8WRyTOvIr6VPJohV1l9dEgjPQpCH9vfWn