Philippine fintech Mynt prices IPO at 6.60 pesos, valuing it around $7 billion

  • Mynt set its final IPO price at 6.60 pesos per share.
  • Mynt expects 52.98 billion pesos from selling 8.03 billion shares.
  • Mynt targets Oct. 20 for listing after subscriptions open Oct. 6.

Mynt, the Philippine fintech company operating mobile financial-services platform GCash, has set its final IPO offer price at 6.60 pesos a share, valuing the company at approximately $7 billion. Its 66.90 billion post-IPO shares imply a market capitalization of about 441.54 billion pesos, while the sale of 8.03 billion shares is expected to raise roughly 52.98 billion pesos, or $843.7 million. Full exercise of the 1.20 billion-share overallotment option would increase proceeds to about 60.9 billion pesos, or $969.8 million, potentially making the listing one of the Philippine Stock Exchange’s largest. Mynt plans to open subscriptions on Oct. 6 and targets an Oct. 20 listing. The GCash platform has 94 million users, and Mynt’s backers include Globe Telecom, Ant International, Mitsubishi UFJ Financial Group and Warburg Pincus.

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