Mynt Inc., the company that owns GCash, filed to sell shares on the Philippine Stock Exchange on 29 June 2026, planning to raise up to $1.5 billion. If it happens at that price, it will be the country's largest stock market debut ever, according to The Wall Street Journal.

GCash is the leading mobile payment app in the Philippines. Mobile wallets took off there faster than in most neighbouring countries in Southeast Asia. A $1.5 billion stock sale would make Mynt's listing one of the biggest in the region outside Singapore and Hong Kong — and puts it on the radar of global investors looking for fintech companies with real reach.

The Ant International Connection

Mynt is majority-owned by Ant International, a company with an important backstory. Ant Group, the Chinese parent company, planned a $37 billion stock offering — the largest ever — but regulators stopped it in November 2020 and forced Ant to reorganize, per Reuters. Ant International was set up as a separate business focused on cross-border payments and investing in fintech companies across Asia.

Now Ant International is raising money at the same time Mynt goes public. Reuters reported on 10 June 2026 that Ant International is seeking $1 billion in fresh funding from private investors. So the parent company and its main asset are both trying to raise capital in parallel — the parent through private investors, Mynt through a public stock offering.

Why the Philippines, Why Now

Mynt is listing in the Philippines instead of Hong Kong, Singapore, or the United States. Philippine law generally requires companies that operate mainly there to list locally, and nearly all of GCash's users are based in the Philippines. A listing at home also keeps regulators happy — they have watched foreign-controlled payment apps with some caution.

The timing also matters. Philippines government bond prices have been steady, the peso has not collapsed in value, and stock prices on the local exchange have recovered from pandemic lows. For a company like Mynt — profitable or nearly profitable, and dominant in its home market — an IPO window is a valuable thing. When one opens, companies move quickly through it.

Why This Size Matters

A $1.5 billion stock sale would be much larger than anything the Philippine Stock Exchange has seen before. Most big listings there have been property companies and large conglomerates; a digital payment company this size listing in the Philippines is unprecedented. That newness cuts two ways. Global investment funds that hunt for deals in emerging markets will struggle to find other comparable companies to use as a yardstick for value. And after the stock starts trading, liquidity — how easily shares change hands — will depend on whether big anchor investors agree to lock up their shares for a set period.

Ant International's private funding round values the company at $10 billion before new money comes in. That figure gives a clue to what large investors think Ant's international business is worth. Once Mynt releases its detailed financial information in the prospectus, we will see whether the IPO price matches that valuation or comes in lower to attract local Filipino investors.

What matters most is the numbers in the prospectus: revenue, EBITDA (basically profit before interest and taxes), and how many users GCash has. The $1.5 billion target is an upper limit, not a final price. The real story will come from who buys the shares, how many orders bankers receive, and where that demand comes from. That information will come out over the next few weeks.