Mynt, GCash owner, rises in Manila debut after country's largest IPO
Shares of Ant International-backed fintech Mynt climbed in their Philippine Stock Exchange debut. The offering is the largest in the country's history.
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what happened
According to Dow Jones Newswires, shares of Mynt, which operates the GCash mobile platform, rose as much as 2.4% to 6.76 pesos in early Manila trading. The benchmark PSE index gained only 0.3% over the same period.
The company raised 53 billion pesos (about $841.4 million) by selling 8.03 billion shares at 6.60 pesos each, valuing it at roughly 441.54 billion pesos, or $7 billion. Cornerstone investors include BlackRock and T. Rowe Price, with Mitsubishi UFJ Financial Group and Warburg Pincus also among backers.
why it matters
The listing tests investor appetite for the Philippine market, which has struggled to attract IPOs due to liquidity issues and a weak currency. The country's weight in MSCI's emerging-markets index was 0.4% at end-2025, versus 1.2% for Indonesia and 1.0% for Thailand. The MSCI Philippines Index has just nine constituents, and International Container Terminal Services alone accounts for over 44% of it.
market impact
Philippine equities: a strong debut may encourage more IPOs, while the index's narrow makeup limits inflows
tags
instruments
sources
- Ant-Backed Fintech Mynt Rises in Debut After Manila's Largest IPO — Dow Jones Newswires, 20 October 2026 at 05:20 UTC
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