GCash owner Mynt secures over 20 cornerstone investors for potentially biggest Philippine IPO

Mynt plans to sell up to 8.03 billion shares at up to 10 pesos each. An overallotment option covering up to 1.2 billion additional shares could increase the deal size to about 92.3 billion pesos, according to the preliminary prospectus.

At the top of the price range, Mynt would be valued at about 669 billion pesos.

The company said proceeds from the sale of new shares would be used to expand its digital financial services business, develop products and for general corporate purposes.

The offer period is scheduled to run from October 6 to October 12, according to the preliminary prospectus. The final price will be set after the close of the offer, with trading on the Philippine Stock Exchange expected to begin on October 20.

($1 = 62.6650 Philippine pesos)