MANILA, Philippines — Overseas Filipino workers will get an opportunity to become shareholders in Mynt, the parent company of GCash, when the country’s largest digital financial platform goes public in October.
The upcoming initial public offering (IPO) is drawing attention among Filipinos abroad, with international Filipino media and overseas investment communities discussing how OFWs may participate in the offering.
Gulf News, which has a substantial Filipino readership in the Middle East, recently published a report on how Filipinos and OFWs could participate in the Mynt IPO, including practical consideration on subscribing to Philippine IPOs.
The interest comes as Mynt prepares to make its shares available to retail investors, potentially allowing Filipinos who have long used GCash for financial transactions to take a direct ownership stake in the company behind the platform.
To Open a GStocks account while abroad, a Philippine mobile number is required.
The IPO could offer OFWs a different way of participating in the Philippine economy—from being users of a digital financial service to potentially becoming shareholders of its parent company.
The Philippine Stock Exchange has approved the listing of up to 8.03 billion Mynt common shares, with an overallotment option of up to 1.20 billion additional secondary shares.
The offer period is scheduled for October 6 to 12, with the final offer price to be determined on October 1. Mynt is tentatively scheduled to list on the PSE on October 20.
The PSE has said the IPO subscription will be made available through GStocks in the GCash app, while local small investors may also participate through the PSE EASy platform.
The use of GStocks could make the offering more accessible to retail investors who may not have previously maintained conventional brokerage accounts, potentially widening participation in the Philippine equities market.
For OFWs, however, access and eligibility will depend on the applicable subscription requirements and the channels available to investors based abroad.
Mynt said it has also secured commitments from more than 20 global and domestic cornerstone investors, including major international investment managers and institutions. Their commitments are expected to cover the entire institutional offer tranche, subject to possible reallocation among the IPO tranches.
The participation of international institutions, together with the availability of the offering to retail investors, gives the Mynt IPO a reach extending beyond traditional Philippine stock market participants.
