GCash parent Mynt authorizes filing for potential initial public offering

Metro Manila, Philippines – Mynt, Inc., the fintech pioneer behind e-wallet GCash, today announced that its board and shareholders have authorized the company’s filing of a registration statement with the Securities and Exchange Commission and a listing application with the Philippine Stock Exchange, Inc. in connection with a potential initial public offering (IPO).

The proposed IPO will have the following terms:

+the offer will be equivalent to 12 percent of Mynt’s total outstanding capital stock post-IPO

+firm shares will consist of both primary and secondary offers.

This same information was disclosed by Globe Telecom, Inc. in accordance with corporate governance standards and pertinent disclosure rules and regulations.

“Over the past decade, Mynt has evolved from an e-wallet operator into the Philippines’ number one finance superapp and largest cashless ecosystem,” said Martha Sazon, president and CEO of Mynt.

“The  authorization of our board and shareholders allows us to work toward a potential public listing as the next step in Mynt’s growth journey, while continuing to focus on the priorities that have brought us to this point: serving customers, supporting merchants, strengthening our platform offering, and building the business for the long term,” she said.

Since its founding in 2015, Mynt has built a national scale digital finance ecosystem through GCash, which began as an SMS-based local money remittance service in 2004. GCash has served consumers, merchants, and enterprise partners across payment solutions, lending, and other digital financial services. The company’s growth reflects the increasing role of digital finance in the economy and the continued adoption of mobile-first financial services across the country.

“We hope Mynt’s journey could also inspire Filipino companies and startups, fostering a spirit of innovation and entrepreneurship in the local tech community, all while promoting the Philippines as a vibrant hub for technology and fintech innovation in Southeast Asia,” said Sazon.

Further disclosures will be made at the appropriate time and in accordance with applicable requirements. Any potential offering remains strictly subject to the registration requirements of the SEC, listing requirements of the PSE, prevailing market conditions, transaction structure, governance approvals and consents, and other customary closing conditions.