MANILA — The Philippine Stock Exchange has approved Mynt Inc.’s application to list common shares on the Main Board, including shares to be sold in the company’s initial public offering, according to a Friday advisory from the exchange.
The planned IPO carries an offer price of ₱10 per share as a ceiling. The firm offer covers up to about 8.03 billion common shares — mixing primary shares that raise capital for the company and secondary shares sold by existing holders — plus an overallotment option of up to about 1.20 billion secondary shares.
PSE said the approval covers the IPO and listing only and remains subject to Mynt meeting post-approval conditions from the exchange, the Securities and Exchange Commission, and other regulators. The SEC cleared Mynt’s registration earlier this month.
Under the latest timetable reported with regulators, the offer window runs October 6 to 12, with a Main Board debut under the ticker GCASH targeted for October 20. Mynt has said the offer would represent roughly 12% to 13.8% of shares after the IPO, with existing shareholders retaining the large majority.
Bottom line: For investors watching GCash’s parent, PSE listing approval is a milestone — not the finish line. Book-building, the final offer price under that ₱10 ceiling, and remaining regulatory permits still decide whether October’s GCASH debut sticks.
— WWC NEWSDESK
