Stage set for GCash's record P92.3B IPO, October 20 listing eyed

Guia Abogado/Rappler

The shares will be offered from October 6 to 12, with Mynt targeting an October 20 debut on the Philippine Stock Exchange under the ticker GCASH

MANILA, Philippines – GCash has obtained clearance from the Securities and Exchange Commission (SEC) to pursue what will likely become the biggest initial public offering (IPO) in Philippine stock market history.

The IPO will be conducted by Mynt Inc., the parent company of GCash, for up to P92.32 billion. Under the latest timetable submitted to regulators, the shares will be offered from October 6 to 12, with Mynt targeting an October 20 debut on the Philippine Stock Exchange (PSE) under the ticker GCASH.

While there is no final offer price yet, shares may be sold for as much as P10 apiece, giving the e-wallet giant an expected initial market capitalization of about P668.96 billion.