Last updated: October 6, 2026
Millions of Filipinos use GCash every day to pay bills, send money, or load their phones. Now, for the first time, ordinary GCash users have a chance to actually own a piece of the company behind the app.
Mynt Inc., the parent company of GCash, is set to debut on the Philippine Stock Exchange (PSE) on October 20, 2026 under the ticker symbol GCASH. The final offer price has been set at P6.60 per share, well below the P10 maximum originally floated. With the overallotment option, the offering could reach about P60.9 billion, which would make it the largest IPO in Philippine stock market history, surpassing Monde Nissin’s P55.89 billion offering in 2021.
Here’s everything you need to know, including how to actually buy shares using the GCash app itself.
What Is Happening With the GCash IPO
Mynt will offer 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. There is also an overallotment option of up to 1.20 billion additional secondary shares.
At the final price of P6.60 per share, the base offering is worth about P53 billion, and it could reach about P60.9 billion if the overallotment is fully exercised. Based on roughly 66.9 billion shares outstanding after the offer, that values Mynt at around P442 billion at listing.
Note that the base offer alone is slightly below Monde Nissin’s record. It is the full offer with the overallotment option that would set a new high.
One important caveat: the offer remains subject to the conditions set by the Securities and Exchange Commission (SEC) and the PSE, including the SEC’s Permit to Sell. Keep an eye on official announcements for confirmation.
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. The final price was set on October 1 and disclosed on the PSE on October 2.
COL Financial’s chief equity strategist April Lynn Tan said the market is weak right now, 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.
Key Dates to Remember
October 1, 2026 is when the final IPO price of P6.60 was set through book building.
October 6 to 12, 2026 is the offer period, when investors can subscribe to shares.
October 20, 2026 is the tentative listing date, when GCASH shares officially start trading on the PSE.
Why This IPO Is Different for Everyday Filipinos
Most IPOs in the past were hard to access unless you already had a stockbroker account. This one is different because GCash shares are expected to be available 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. Whichever figure you use, this could be the first time a huge number of Filipinos are able to buy PSE-listed shares without ever opening a separate brokerage account.
The lower price also helps. At P6.60 per share, a minimum block of 100 shares costs P660 before applicable fees and charges. That is a much lower entry point than the P1,000 you would have needed at the P10 ceiling, and low enough for a lot of first-time retail investors to try.
How to Subscribe to the GCash IPO via GStocks PH
If you already have a verified GCash account, here’s the general process (based on how GStocks PH IPO subscriptions currently work, subject to final confirmation inside the app once the GCASH offer goes live):
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. Account activation is usually instant for existing verified GCash users.
Step 3: Fund Your GStocks PH Wallet
Cash in to your GStocks PH trading wallet from your GCash balance before you can place an order. Remember to leave room for applicable fees and charges on top of the P660 minimum.
Step 4: Look for the IPO Banner
During the offer period (October 6 to 12), tap the IPO banner inside GStocks PH. This should show you the subscription period, the final price of P6.60 per share, and the minimum number of shares you can buy.
Step 5: Enter Your Order and Confirm
Input the number of shares you want to buy, review the order, and submit. Your order amount will be earmarked from your trading wallet immediately.
Step 6: Wait for Allocation Results
Because this is expected to be a heavily subscribed IPO, you may get a full allocation, a partial allocation, or none at all, depending on demand. Shares only appear in your portfolio on the actual listing date (October 20), not right after you subscribe.
Aside from GStocks PH, you can also subscribe through a traditional PSE stockbroker or, if you qualify as a Local Small Investor (LSI), through PSE EASy, which has a cap of P100,000 per order. Based on coverage of the prospectus, about 70% of the offer goes to institutions, 20% to trading participants (stockbrokers) and 10% to Local Small Investors, but confirm the final split with your broker or the final prospectus.
Is the GCash IPO Worth Buying? 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%. Big institutional names are backing the deal, including the International Finance Corp. (IFC), the World Bank’s private-sector arm, which approved a P4.4-billion cornerstone investment. Cornerstone investors have committed about P36.5 billion in total.
The valuation is more reasonable than 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 consists of existing shares sold by current shareholders, so most of the proceeds go to the sellers rather than to the company. One analyst from Trading Edge estimated a target price of around P8 per share, but treat targets like this as opinions, not guarantees.
This is still a single-stock investment. Even with a household name like GCash, putting money into one company’s IPO carries more risk than a diversified fund. Weak market conditions, which were part of the reason for the lower price, 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
What is the final price of the GCash IPO?
The final offer price is P6.60 per share, which is 34% below the P10 maximum indicated in the prospectus. At that price, 100 shares cost P660 before fees and charges.
When is the GCash IPO?
The offer period is scheduled for October 6 to 12, 2026, and the tentative listing date on the PSE is October 20, 2026 under the ticker GCASH. The offer is subject to the SEC’s Permit to Sell and other customary conditions.
How much money do I need to join the GCash IPO?
Based on the P6.60 final price and reports of a 100-share minimum, you need about P660 plus applicable fees and charges. Confirm the exact minimum inside GStocks PH once the offer period opens.
Can I really buy GCash IPO shares using the GCash app?
Yes. Through GStocks PH, GCash’s built-in investing feature, verified users are expected to be able to subscribe directly to the Mynt IPO without needing a separate brokerage account. Qualified Local Small Investors can also subscribe through PSE EASy.
What if I don’t get shares during the IPO offer period?
If your subscription isn’t fully allocated or the offer period closes before you apply, you’ll still be able to buy GCASH shares on the open market once it lists on October 20, through GStocks PH or any PSE stockbroker, though the price will then depend on how the stock trades on its first days.
Is investing in the GCash IPO guaranteed to be profitable?
No. Like any stock, GCASH shares can go up or down after listing. IPOs, especially large ones, 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, this GCash IPO is honestly a big deal, hindi lang for the stock market kundi for ordinary Filipinos who’ve never touched stocks before. Halos lahat tayo GCash user, so may element ng “sasali ba ako sa company na ginagamit ko na pala araw-araw?”
Maganda yung balita na bumaba ang final price sa P6.60 versus sa P10 ceiling, kasi mas malaking cushion yun para sa atin bilang retail investors, at P660 lang ang minimum para sa 100 shares. Pero as always, huwag padalos-dalos. Basahin muna ang prospectus, alamin kung gaano karaming pera ang kaya mong i-risk, at tandaan na single stock pa rin ito. I’ll keep updating this article once the allocation results and the actual listing day are out, so bookmark this page.
This article is for general informational purposes only and is not financial advice. IPO participation involves risk, and share prices can go up or down after listing. Please do your own research or consult a licensed financial advisor before investing.