GCash parent Mynt lists in record IPO

What happened

Mynt Inc., the parent company of the Philippine mobile wallet GCash, started trading on the Philippine Stock Exchange on Tuesday, 20 October 2026, under the ticker GCASH. The shares were priced at 6.60 pesos each, and the offering raised about 60.9 billion pesos including the overallotment option, according to Xinhua and BitPinas. The exchange called it the largest maiden offering in the history of the local equities market. The listing also put Mynt's president and chief executive, Martha Sazon, into the Philippines' daily Google search trends this week, with Rappler running a profile under the headline "Martha Sazon, GCash's newly Mynted billionaire".

The details of the listing

According to BitPinas, the firm offering covered just over 8 billion common shares worth about 53 billion pesos, plus an overallotment option of up to about 1.2 billion secondary shares. At the offer price, the company's initial market value was put at about 442 billion pesos. More than 140,000 retail investors placed orders worth roughly 1.1 billion pesos through GStocks PH, a brokerage service inside the GCash app, and the institutional tranche was oversubscribed several times. The Manila Times reported that the shares closed the first day at the offer price and slipped by one centavo on the second day. A local broker, Abacus Securities, said the flat first close suggested active price support by the underwriters.

From text messages to a financial super app

GCash began 22 years ago as a money transfer service run over SMS, BitPinas notes, and later grew into app-based consumer payments, merchant acquiring and digital lending. Xinhua describes it as the country's largest e-wallet, with more than 40 million monthly active users who use it for payments, credit, savings and bills. Mynt is a joint venture of Globe Telecom, Ayala and Ant Group. The company plans to put the net proceeds from new shares into its credit and wealth technology units.

Why it matters for payments and remittance

The listing puts a public market price on a business that started with person-to-person money transfers. It shows how far a simple money transfer app can grow when everyday payments, bills and credit sit in one place. Exchange rates are part of the picture for anyone who sends a remittance: the Philippine News Agency reported that the peso weakened against the US dollar again on 21 October, ahead of a central bank policy meeting the following day. For families on both ends of an international money transfer, small moves in the rate change how much arrives.

What to watch next

Mynt's third-quarter results will be reported through its parent, Globe Telecom, which Abacus Securities expects in the second week of November, according to The Manila Times. Abacus told investors who want exposure to wait for those numbers, while another market analyst said the listing should be judged on how the business develops over the long term rather than on its first days of trading. Watch also how the new capital is used in credit and wealth products, and whether the listing encourages other Southeast Asian fintech companies to go public.

What it means for Odix Pay users

If you send money to family or pay for things abroad, look at the full cost before you confirm. With Odix Pay you can send money to bank accounts abroad from the app, and you see the fee and exchange rate before you confirm. If you are paid from abroad, a personal virtual IBAN in your own name lets you receive transfers into your Odix Pay account. Availability depends on your country, and fees are shown in the app. More stories in the Odix Pay newsroom.