GCASH went public on Tuesday, Oct. 20, 2026, with a historic stock market debut. Mynt, the parent company of the popular e-wallet, rang the opening bell at the Philippine Stock Exchange (PSE) in Taguig City, with President Ferdinand Marcos Jr. leading the ceremony. Shares traded under the ticker GCASH and opened at P6.60, the same as the offer price.
During the IPO listing ceremony, President Marcos cited Mynt’s IPO as an example of how digital technology can make investing more accessible. He said it was a milestone for Philippine finance, particularly in demonstrating how e-wallets have become essential to everyday transactions.
A record-setting offering
Mynt raised P60.9 billion by selling 9.23 billion shares at P6.60 each, including shares covered by the fully exercised overallotment option. That is the biggest IPO the country has ever seen, topping the P55.89 billion that Monde Nissin raised in 2021. Of the total, only P10.6 billion will go to the company as new capital. The other P50.3 billion came from existing investors selling their stakes.
The company’s market value at debut stood at P441.5 billion, roughly $7 billion, which makes it the seventh-largest domestic company on the PSE, according to PSE president Ramon Monzon.
“Most inspiring is how broadly this offer reached ordinary Filipinos. 140,725 GCash subscribers invested about P1.1 billion in this IPO through the GCash app, and for many of them, it was their first time owning shares in a listed company. This is what market inclusion looks like: technology giving more Filipinos a stake in the growth of the businesses they rely on every day,” Monzon said.
Demand was strong: stockbrokers asked for more than 2.65 billion shares against an allocation of 1.6 billion, or 165.5 percent of what was available. An hour after the open, at 10:30 a.m., the stock was changing hands at P6.73, about two percent above the offer price.
Investors big and small
Monzon said 19 foreign and 6 local cornerstone investors took up 59.8 percent of the shares on offer, calling the result “a statement of confidence” in Mynt, the economy and the local capital market. He also highlighted the retail side: 140,725 GCash users put in about P1.1 billion through the app and for many it was their first time owning shares in a listed company.
What comes next
Mynt president and CEO Martha Sazon traced the company’s growth from a text-message money transfer service to a platform woven into daily life, noting that nearly 90 percent of its customers come from low- and middle-income households.
She said going public is “not the finish line” but a way to reach more unbanked and underserved Filipinos. The company plans to use a large part of the proceeds to move beyond sending money and into savings, loans, insurance and investment products.
Marcos also stressed the need to draw in fresh investors. The trend backs him up: Bangko Sentral ng Pilipinas (BSP) data show digital transactions made up 64.7 percent of retail payments by volume in 2025, up from 57.4 percent the year before, and TransUnion’s 2026 Credit Perception Index found that nearly half of Filipinos began their financial lives with an e-wallet.
Darvin Su, GCash’s general manager for wealth management, added that regular dialogue between regulators, such as the BSP and the Securities and Exchange Commission, and the private sector could improve financial literacy, widen access to services and help shape policies that support programs run by both industry and government. / MVG / PNA