Mynt Inc., the fintech operator of the popular GCash mobile wallet, raised approximately $845 million in the largest initial public offering in Philippine history. The offering could exceed $960 million if the overallotment option is exercised. It valued Mynt at around $7 billion and drew strong demand from institutional investors.
Mynt made its debut on the Philippine Stock Exchange under the ticker GCASH, and its shares rose in early trading. The company is a joint venture backed by Globe Telecom, Ayala Corporation and Ant International.
Mynt has become a major player in the country’s digital payments market, with more than 41 million monthly active users.