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GCash parent slashes share price ahead of IPO
The Philippine Star
|June 04, 2025
Globe Fintech Innovations Inc. (Mynt), the parent company of e-wallet giant GCash, has cut its share price ahead of what could be the biggest initial public offering (IPO) at the Philippine Stock Exchange (PSE).
Mynt's board of directors yesterday approved the amendment in the company's number of shares and their par value to 71.66 billion common shares for P0.03 a piece, from 2.15 billion common shares for P1 each.
In spite of this, Mynt is keeping its authorized capital stock unchanged at P2.15 billion.
The company is now waiting for the Securities and Exchange Commission to approve the amendment in its share prices. Mynt made no explanation as to why it modified the value of its shares, but it is no secret that the company is gearing up to file an IPO for GCash.
This story is from the June 04, 2025 edition of The Philippine Star.
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