GCash parent Mynt files for $1.5 billion IPO on Philippine Stock Exchange
By
Ron Patel
Summary
Mynt, the parent company of Philippine mobile wallet GCash, has filed for an IPO on the Philippine Stock Exchange aiming to raise up to $1.5 billion (92.3 billion pesos) at a valuation of approximately $8 billion. The filing covers up to 9.23 billion shares at 10 pesos each, representing 12% of outstanding capital post-offering. This would be one of the largest fintech IPOs in Southeast Asia in recent years, testing investor appetite for tech listings in a market that has been cool toward such offerings lately.
Source
bskyGCash parent Mynt files for $1.5 billion IPO on Philippine Stock Exchangestartupfortune.comKey quotes
· 3 pulledMynt's planned GCash listing is not just another fintech IPO.
At the numbers in the filing, it would force public investors to put a hard price on the Philippines' biggest mobile wallet after two quiet years for Southeast Asian fintech listings.
Mynt is asking for a very large check from a market that has not been generous to technology listings lately.
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