Last updated: October 21, 2026
Millions of Filipinos use GCash every day to pay bills, send money, or load their phones. Now, ordinary GCash users can actually own a piece of the company behind the app.
Mynt Inc., the parent company of GCash, made its debut on the Philippine Stock Exchange (PSE) on October 20, 2026 under the ticker symbol GCASH. The final offer price was P6.60 per share, well below the P10 maximum originally floated, and the PSE calls it the largest IPO in its history, surpassing Monde Nissin’s P55.89 billion offering in 2021.
Here’s everything you need to know about how the IPO went, plus how to buy GCASH shares using the GCash app itself.
What Happened on Listing Day
GCASH opened at around its P6.60 offer price, rose to an intraday high of P6.76 (about 2.4% above the IPO price), and closed the day flat at P6.60. There was no first-day pop, but there was no first-day drop either, which is a steadier debut than recent regional tech listings.
At that price, Mynt debuted with a market capitalization of about P442 billion, making it the seventh-largest domestic company on the PSE. President Marcos led the bell-ringing ceremony at the PSE Tower in Taguig.
How the IPO Went
Mynt offered 8,027,409,600 common shares, made up of up to 1.61 billion new (primary) shares and up to 6.42 billion existing (secondary) shares, plus an overallotment option of up to 1.20 billion secondary shares. At P6.60, the base offering was worth about P53 billion, and the total gross offer size reported by the PSE reached P60.9 billion including the overallotment option.
Demand from retail and local investors was solid:
GStocks PH: More than 140,000 GCash users placed nearly P1.1 billion in orders through GStocks PH. Mynt said 8 to 10 percent of these subscribers had joined GCash only in the days leading up to the IPO.
Trading participants (stockbrokers): Local trading participants submitted orders for more than 2.65 billion shares against an allocation of about 1.6 billion shares, or 165% of the allocation.
Institutions: More than 20 global and domestic cornerstone investors committed about P36.5 billion ahead of the offer, including the International Finance Corp. (IFC), which approved a P4.4-billion investment.
Why the Final Price Came in Lower Than P10
The P10 figure was only the maximum indicative price in the prospectus. After book building, Mynt set the final price at P6.60, or 34% below the ceiling.
COL Financial’s chief equity strategist April Lynn Tan said the market was weak, so a company that wants to raise capital has to make the stock more attractive by pricing it cheaper. She also cautioned investors not to treat the lower price as a red flag by itself, and to look instead at whether Mynt’s profitability stays on an upward path.
Why This IPO Was Different for Everyday Filipinos
Most IPOs in the past were hard to access unless you already had a stockbroker account. This one was different because GCash users could subscribe directly through GStocks PH, the investing feature already built into the GCash app.
Mynt reported 41.5 million monthly active users as of June 2026, equal to nearly 56% of the Philippine adult population. A lawmaker has also cited about 49 million Filipinos, or roughly 42% of the population, using the app. For many of these users, GStocks PH was their first step into the stock market without opening a separate brokerage account.
How to Buy GCASH Shares Now
The IPO offer period (October 6 to 12) is over, so new buyers now purchase GCASH on the open market, just like any other PSE-listed stock. Here’s the general process through GStocks PH (the exact screens may vary slightly in the app):
Step 1: Make Sure Your GCash Account Is Fully Verified
You’ll need a fully verified GCash account with updated KYC (know-your-customer) requirements, including a valid government-issued ID.
Step 2: Open GStocks PH
Go to the Grow or Invest tab in your GCash app and tap GStocks PH. If you haven’t registered for GStocks PH yet, you’ll need to do that first.
Step 3: Fund Your GStocks PH Wallet
Cash in to your GStocks PH trading wallet from your GCash balance. Leave room for applicable fees and charges on top of the cost of your shares.
Step 4: Search for GCASH
Look up the ticker GCASH inside GStocks PH and check the current price, which will now move with market demand instead of staying at the P6.60 offer price.
Step 5: Place Your Order
Enter the number of shares, review the order, and submit. At the P6.60 listing price, a standard board lot of 100 shares costs about P660 before fees, but your actual cost depends on the price when your order executes.
You can also buy through any PSE stockbroker if you prefer a traditional brokerage account.
Is GCASH Worth Buying Now? Things to Consider
The track record is strong, but growth is cooling. Mynt’s net profit jumped from P6.38 billion in 2023 to P17.25 billion in 2025, but first-half 2026 net income rose only 7.3% to P10.82 billion, and analysts note that second-quarter profit slipped about 6%.
The valuation is more reasonable than it would have been at the P10 ceiling, but it is not cheap. At P6.60, Mynt is valued at about P442 billion, or roughly 25.6 times 2025 earnings, compared with 38.8 times at P10. Analysts put it at around 20 to 22 times projected 2026 earnings. Also keep in mind that about four-fifths of the base offer consisted of existing shares sold by current shareholders, so most of the proceeds went to the sellers rather than to the company.
One broker analyst said a small allocation makes sense for those who want exposure to a landmark listing, but he would not chase a first-week pop. That is a sensible approach for a stock that closed its first day flat.
This is still a single-stock investment. Even with a household name like GCash, putting money into one company carries more risk than a diversified fund. Weak market conditions can also weigh on the stock after listing. Only invest what you’re prepared to hold through short-term price swings, which is common for large, newly listed stocks.
Frequently Asked Questions
Is GCASH already listed on the PSE?
Yes. Mynt Inc. began trading on the PSE Main Board on October 20, 2026 under the ticker GCASH. It opened at around the P6.60 IPO price and closed its first day flat at P6.60.
What was the final price of the GCash IPO?
The final offer price was P6.60 per share, which is 34% below the P10 maximum indicated in the prospectus.
Can I still join the GCash IPO?
No. The offer period ran from October 6 to 12, 2026. You can still buy GCASH shares on the open market through GStocks PH or any PSE stockbroker, at whatever price the stock is trading at.
How much money do I need to buy GCASH shares now?
A board lot is 100 shares, which costs about P660 at the P6.60 listing price, plus fees and charges. Check the live price in GStocks PH before ordering.
Can I really buy GCASH shares using the GCash app?
Yes. GStocks PH, GCash’s built-in investing feature, lets verified users trade PSE-listed stocks, including GCASH, without a separate brokerage account.
Is investing in GCASH guaranteed to be profitable?
No. Like any stock, GCASH shares can go up or down. Newly listed large stocks can be volatile in their first weeks of trading. Do your own research and only invest money you can afford to hold long term.
Blogger’s Corner
Grabe, ang bilis ng panahon. Dati pinag-uusapan pa lang natin kung sasali ba tayo sa GCash IPO, ngayon listed na siya sa PSE! Flat ang first day sa P6.60, so walang pop pero wala ring bagsak, at para sa akin okay lang yun para sa isang malaking IPO.
Ang mahalaga, nakita natin na maraming ordinaryong GCash users ang sumali, kasama yung mga bago pa lang nag-sign up. Pero as always, huwag padalos-dalos. Single stock pa rin ito, at hindi porket household name ay walang risk. Aralin muna ang numbers, magdesisyon base sa kaya mong i-risk, at huwag mag-chase ng presyo. I’ll keep updating this article as GCASH trades, so bookmark this page.
This article is for general informational purposes only and is not financial advice. Stock investing involves risk, and share prices can go up or down. Please do your own research or consult a licensed financial advisor before investing.