Maya opens GCash IPO subscriptions in its app starting Oct. 6

• Photo courtesy of Maya

Filipinos will be able to buy shares of GCash parent Mynt Inc. through rival Maya starting Oct. 6. Maya said users can subscribe to the highly anticipated IPO through Maya Stocks and its stockbroker partners directly inside the Maya app.

“Own GCash without using GCash,” Maya said in a social media post announcing the offering.

Mynt has set the final IPO price at ₱6.60 per share, lower than the initial maximum price of ₱10. The offer period will run from Oct. 6 to 12, with the company scheduled to list on the Philippine Stock Exchange under the ticker GCASH on Oct. 20.

Maya clarified that investors are buying shares of Mynt, the parent company of GCash, and not shares directly issued by the GCash app. Subscriptions made through Maya Stocks will be processed through participating SEC-regulated broker-dealers, with shares still subject to final allocation.

The IPO could raise as much as ₱60.9 billion if the overallotment option is fully exercised, potentially making it the largest IPO in Philippine Stock Exchange history. Mynt said the offering attracted strong demand from both foreign and domestic institutional investors.

The unusual setup also puts two of the country’s biggest competing financial technology brands in the same transaction: Maya is effectively giving its users a way to become shareholders of the company behind rival GCash.