BlackRock poised to invest in Mynt’s IPO for GCash, the Philippines’ largest-ever public offering

BlackRock is planning to buy shares in the initial public offering of Mynt Inc., the parent company of GCash, according to Bloomberg. If the deal hits its maximum target, it would be the largest IPO the Philippines has ever seen, raising as much as PHP 92.3 billion, roughly $1.5 billion. The biggest deal Manila has seen Mynt filed for its IPO on June 27, 2026, pricing shares at PHP 10 apiece. The offering comprises up to 8.03 billion common shares plus an additional 1.2 billion secondary shares being sold by existing investors. The Philippine Securities and Exchange Commission gave its approval in early September 2026. The Philippine Stock Exchange followed suit on September 18, clearing the path for the offer period to begin in early-to-mid October, with listing expected around October 19-20 under the ticker GCASH. The SEC also granted Mynt permission to proceed with a reduced minimum public float of 12%. Morgan Stanley, J.P. Morgan, and UBS are serving as joint global coordinators. The IPO features a blend of primary shares, with proceeds earmarked for lending expansion and general corporate purposes, and secondary shares from existing shareholders looking to partially cash out. ...