MANILA, Philippines – The company behind fintech giant GCash has taken its clearest step yet toward a long-awaited stock market debut after securing approvals to pursue a potential initial public offering (IPO).
On Wednesday, Mynt, the fintech firm operating the country’s largest finance superapp, said its board had approved the filing of a registration statement with the Securities and Exchange Commission (SEC) and a listing application with the Philippine Stock Exchange (PSE).
READ: GCash parent Mynt keeps IPO option open
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Under the proposed transaction, Mynt plans to sell shares equivalent to 12% of its outstanding stock through a mix of primary and secondary shares. Each common share will have a carrying par value of 3 centavos.FEATURED STORIES
