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      BlackRock to Invest in Mynt's $1.5 Billion IPO for GCash in the Philippines

      BlackRock, the world's largest asset manager, is set to invest in the initial public offering (IPO) of Mynt Inc., the parent company of GCash, which aims to raise up to $1.5 billion. This IPO, if successful, would mark the largest in Philippine history, with Mynt planning to price its shares at PHP 10 each. The offering includes up to 8.03 billion common shares and an additional 1.2 billion secondary shares from existing investors.

      Mynt filed for its IPO on June 27, 2026, and received approval from the Philippine Securities and Exchange Commission in early September. The Philippine Stock Exchange also cleared the IPO on September 18, allowing the offer period to commence in early to mid-October, with shares expected to begin trading around October 19-20 under the ticker GCASH. The SEC has permitted Mynt to proceed with a reduced minimum public float of 12%.

      The IPO proceeds are intended for lending expansion and general corporate purposes, with Mynt reporting significant growth in its financial performance. In 2025, the company achieved revenues of PHP 79.8 billion, a 27% increase from the previous year, and a net income of PHP 17.2 billion, up 56%. GCash currently boasts around 39 to 40 million monthly active users and facilitated PHP 17 trillion in payment transactions annually, highlighting its substantial market presence in the Philippines.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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