MANILA – Mynt, Inc. (“Mynt”), the parent company of GCash, has received approval from the Philippine Stock Exchange (PSE) for its proposed initial public offering (IPO) and the listing of its common shares on the Main Board of the PSE.

Mynt received PSE’s formal Notice of Approval (NOA) following its filing of Registration Statement with the Securities and Exchange Commission of the Philippines (SEC), the firm said on Wednesday, September 16.

The PSE clearance marks a crucial regulatory milestone as the company prepares for its landmark transaction to open GCash to public market in October.

As GCash has become an indispensable part of everyday life for millions of Filipinos, Mynt said the IPO offering reflects its belief that there is “good business in doing good.”

Backed by Globe, Ant Group, Ayala, and other international partners, Mynt said it remains committed to driving financial inclusion and delivering long-term value for its users and future shareholders.

Subject to receipt of final regulatory clearances and market conditions, the proposed Offer is expected to consist of up to 8,027,409,600 common shares (the “Firm Shares”) with an overallotment option of up to 1,204,111,400 secondary common shares (the “Option Shares”).

Mynt said the Firm Shares comprise up to 1,605,481,900 primary common shares it issued and up to 6,421,927,700 secondary common shares offered by existing selling shareholders.

Upon completion, the Firm Shares will represent approximately 12.0% of Mynt’s issued and outstanding capital stock (or 13.8% assuming full exercise of the overallotment option out of 66,895,913,057 total shares).

For Mynt’s public offering, Morgan Stanley & Co. International PLC, J.P. Morgan Securities plc, and UBS AG Singapore Branch are acting as Joint Global Coordinators and Joint Bookrunners, while Jefferies Singapore Limited, CLSA Limited, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch serve as International Joint Bookrunners.

Meanwhile, BPI Capital Corporation and BDO Capital & Investment Corporation act as Domestic Lead Underwriters and Joint Bookrunners. AB Capital & Investment Corporation and First Metro Investment Corporation serve as the Domestic Lead Underwriters while Maybank Securities Pte. Ltd. will act as the International Co-Manager.

Mynt said further disclosures will be made at the appropriate time and in accordance with applicable requirements.

Any potential offering remains strictly subject to the registration requirements of the SEC, listing requirements of the PSE, prevailing market conditions, final offer terms, and internal approvals and consents, it added. ▲