Mynt, the Manila-based fintech behind GCash, said on June 17 that its board and shareholders had authorized the company to pursue a potential initial public offering.

The company plans to file a registration statement with the Philippine Securities and Exchange Commission and a listing application with the Philippine Stock Exchange.

The proposed deal would cover shares equal to 12% of Mynt’s total outstanding capital stock after the IPO. The offering would still depend on regulatory approvals. Market conditions, transaction structure, governance approvals, and other customary closing must also be met.

That 12% figure comes as Philippine regulators have eased public float requirements for large IPOs. Case-by-case relief available down to that level.

Mynt was founded in 2015 as a partnership among Globe Telecom, Ayala Corp., and Ant Group. GCash had more than 76 million registered users in the Philippines as of 2023.

Mynt was reportedly targeting at least US$8 billion in valuation. If completed, the deal would make the listing one of the country’s largest IPOs.

🔗 Source: Mynt, Inc.