MANILA, Philippines – Fintech giant GCash is now one step closer to going public after its board of directors approved the potential filing of an initial public offering (IPO) with the Philippine Stock Exchange (PSE), Ayala Corporation and Globe Telecom disclosed to investors on Wednesday, June 17.

The board and shareholders of GCash’s parent firm Mynt approved the filing of a registration statement with the Securities and Exchange Commission and an IPO application with the local bourse.

While the company has yet to disclose the exact offer size, Mynt said that this is equivalent to 12% of its outstanding capital stock post-IPO with a share price of around P0.03 apiece.

It also said that the offer will consist of both primary and secondary shares.

Mynt’s president and chief executive officer Martha Sazon said in a statement that this move allows the fintech giant to move towards an IPO as the next step in the company’s growth journey.

“The authorization of our board and shareholders allows us to work toward a potential public listing as the next step in Mynt’s growth journey, while continuing to focus on the priorities that have brought us to this point: serving customers, supporting merchants, strengthening our platform offering, and building the business for the long term,” she said.

Since early 2025, Mynt’s parent firm Globe has been saying that the fintech giant was IPO ready, but that no final decisions have been made.

Analysts expect Mynt’s listing to be the largest IPO on the PSE, with a Wall Street Journal report estimating that the offer could raise around $1 billion.

As of August 2024, GCash is believed to be valued at around $5 billion. According to Globe’s first quarter 2026 earnings report, Mynt made a P5.6 billion profit – up from P5.1 billion from the same quarter last year.

 – Rappler.com