Mynt Inc.’s shares debut Tuesday after the Philippines’ biggest-ever IPO, raising about 53 billion pesos ($840 million) by selling 8.03 billion shares at 6.60 pesos each. The offering tops Monde Nissin Corp.’s 2021 deal and could exceed 60 billion pesos if the overallotment option is fully exercised. Valued at around 442 billion pesos, Mynt would become the third-largest listed financial firm and seventh-largest overall in the Philippines.
Cornerstone investors include Black Rock Inc., FIL Investment Management and Schroders. Trading begins at 9:30 am local time. The GCash mobile-payments app operator’s IPO is seen as a rare play on the country’s growing digital economy, aiming to attract global funds that have sold Philippine equities for eight consecutive years.
Market watchers hope the new-economy stock can revive interest amid structural challenges like limited diversity and low turnover. The MSCI Philippines Index has only nine members, with one port operator dominating nearly 45% of the benchmark. Foreign investors sold about $623 million of local shares in 2026, and the PSE Index hit an 11-month low in October while the peso reached a record low.
Despite low valuations—MSCI Philippines trades at 9.5x forward earnings versus 9x for the broader EM gauge—Mynt’s fintech profile fills a gap in Manila’s traditional benchmarks. Proceeds will expand digital financial services, develop new products, and support general corporate purposes. Executives say the IPO puts the Philippines back on international investors’ radar, especially for fintech exposure.
Источник: Bloomberg Markets · Сводку подготовил HeadlinesBriefing