The planned initial public offering (IPO) of GCash parent company Mynt Inc. is expected to create new opportunities for micro, small, and medium enterprises (MSMEs), as digital payments make it easier for businesses to reach customers and transact beyond traditional markets, the Department of Trade and Industry (DTI) said.
Trade Secretary Cristina Roque said the expansion of digital payment platforms such as GCash could help MSMEs sell their products through e-commerce and reach customers in far-flung areas.
“Of course, companies like GCash and digital payments will really help MSMEs grow, as it will become easy for them to sell their products, especially on e-commerce platforms. Magiging madali na for them ang ma-access or ma-penetrate ang far-flung areas. If they use these digital payments, it’s easier for MSMEs to transact,” Roque said.
“We are really pushing for people to do digital payments, especially with the DEFA (Digital Economy Framework Agreement),” she added.
The comments came after the Philippine Stock Exchange (PSE) on Friday, Sept. 18, approved Mynt’s application to list on the Main Board, paving the way for what could become the largest public offering in the exchange’s history.
Under the approved terms, Mynt will offer up to 1.61 billion primary shares and 6.42 billion secondary shares, with an overallotment option of up to 1.20 billion additional secondary shares.
The offering has a maximum indicative price of P10 per share, putting the potential value of the IPO at up to P92.3 billion. The final offer price, however, will be determined through the book-building process and could be set at P8.50 or P7.50 per share.
The offer period is scheduled from Oct. 6 to 12, while the final offer price is expected to be determined on Oct. 1. The tentative listing date is Oct. 20, with the shares to trade under the symbol GCASH.
PSE President and Chief Executive Officer Ramon S. Monzon said the listing could encourage more fintech and digital economy companies to raise capital through the local equities market.
The offering could also bring more Filipinos into the stock market. IPO subscriptions will be available through GStocks on the GCash app, while Local Small Investors may subscribe through the PSE EASy website or mobile application.
For GCash users, the IPO also presents an unusual prospect: buying shares in the company through the same app they already use to send money, pay bills, purchase goods, receive salaries, save, borrow and invest.
But the potential investment story extends beyond GCash's large user base.
Mynt reported P79.8 billion in revenue and P17.2 billion in profit in 2025, reflecting the scale of its digital financial services ecosystem.
The company’s IPO proceeds from the primary shares will be used for digital financial services growth initiatives, product development and general corporate purposes, according to the PSE.
Meanwhile, Roque said the planned Digital Economy Framework Agreement, or DEFA, could further strengthen the role of digital payments in expanding businesses across the region.
DEFA, which is scheduled for signing at the 49th ASEAN Summit in November, is designed to establish a region-wide framework for digital trade, covering areas such as cross-border payments, data flows and intellectual property protection among ASEAN member states.
“And with DEFA, we provide a single, streamlined set of rules to access regional markets, secure digital payments, and protect intellectual property,” Roque said.
For MSMEs, the combination of wider digital payment adoption, e-commerce and regional digital trade rules could make it easier to reach customers beyond their immediate communities.
For investors, meanwhile, the Mynt IPO offers a chance to participate in the growth of one of the Philippines’ most prominent digital financial services companies.
