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BlackRock Among Investors in GCash Owner IPO Priced Below Maximum

Bloomberg Markets •
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BlackRock, Capital Group and Schroders are poised to buy into the IPO of Mynt Inc., the company behind Philippines mobile wallet GCash, which is on track to price below the maximum. Mynt plans to raise about 60 billion pesos ($957 million) via 9.23 billion shares at roughly 6.50 pesos each, under the 10 pesos maximum announced in June. The International Finance Corp., part of the World Bank Group, is among 20 cornerstone investors set to take up around 70% of the deal.