Mynt Inc., the parent company of the group behind GCash, opened its approximately P53-billion initial public offering (IPO), with subscriptions available through the GCash app starting at P660.
On Tuesday, Mynt said on Tuesday that the offer runs from Oct. 6 to 12 at P6.60 per share. Through GStocks PH, offered by AB Capital Securities Inc., investors can order a minimum of 100 shares.
Orders placed on Oct. 6 and 7 will have their first 100 shares allocated in real time, while shares last.
Additional shares will be processed on a first-come, first-served basis, subject to availability. Order fulfillment begins Oct. 8.
Mynt said more than 20 global and local institutions account for 70 percent of the allocation.
These include funds and accounts managed by relevant BlackRock subsidiaries, the International Finance Corp. and the trust units of BPI and Metrobank.
Full exercise of the overallotment option would bring the offering to approximately P60.9 billion, making it the country’s largest IPO, according to Mynt.
The company is scheduled to list on the Philippine Stock Exchange’s main board on Oct. 20 under the ticker GCASH.