Mynt, Inc. (“Mynt” or the “Company”), the fintech pioneer behind the Philippines’ number one finance superapp GCash, today announced that its Board of Directors (the “Board”) and shareholders have authorized the Company’s filing of a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the Philippine Stock Exchange, Inc. (PSE) in connection with a potential initial public offering (IPO), with the following terms:
- The offer will be equivalent to 12.0% of Mynt’s total outstanding capital stock post-IPO (“Firm Shares”), with each common share having a par value of P0.03 per common share.
- Firm Shares will consist of both primary and secondary offers.
This same information has been 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.”
Since its founding in 2015, Mynt has built a national scale digital finance ecosystem through GCash—which started 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 Philippine 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.
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