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Market Chatter: Mynt Eyes About $1 Billion Via IPO

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Mynt, the operator of GCash, is weighing a domestic IPO that could value the firm at over $8 billion, with plans to raise about $1 billion, Reuters reported Thursday, citing people familiar with the matter.

The listing could be filed as early as July and slated for later this year, depending on market stability and local regulatory approvals, sources told the news agency.

Backed by shareholders including Globe Telecom (PSE:GLO), Ayala (PSE:AC) and Ant Group, Mynt was last valued at $5 billion after a 2024 investment round involving Ayala and Mitsubishi UFJ Financial Group (TYO:8306). Its GCash platform has around 94 million users in the Philippines and provides payments, transfers, savings, lending and insurance services, Reuters said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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