Prospective investors in Bacolod City and Negros Occidental could have an opportunity to own shares in Mynt Inc., the parent company of GCash, through its planned initial public offering (IPO), according to a press release.
BDO Capital president Eduardo Francisco said the final offer price could range from P7.50 to P8.50 per share, below the maximum indicative price of P10, the release stated.
The figures remain estimates rather than a final offer price.
Independent analysts cited in the release supported a valuation of up to P10 per share, pointing to Mynt’s earnings, cash generation, and potential to expand its customer base and financial services.
AB Capital Securities estimated Mynt’s equity value at P531 billion to P834 billion using a discounted cash flow methodology, which assesses value based on projected future cash flows.
Morgan Stanley, meanwhile, noted that Mynt generated P17.2 billion in net income from P79.7 billion in adjusted revenue in 2025, according to the release.
These figures translated to a net profit margin of 21.6 percent and a return on equity of 32.1 percent.
The global investment bank projected Mynt’s net income to reach P21.2 billion in 2026, supported by business expansion and improved profitability. The company’s net margin reached 25.2 percent in the first half of 2026, the release said.
Market observers cited in the release said pricing the IPO below the P10 ceiling could attract both institutional and retail investors.
They added that investor demand and trading activity after listing could help determine the company’s market valuation.*
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