The app most of us open to pay for load, split a dinner bill or send money home now has a ticker of its own. On Tuesday, 20 October 2026, Mynt Inc., the company behind GCash, started trading on the Main Board of the Philippine Stock Exchange under the symbol GCASH. President Ferdinand Marcos Jr. rang the opening bell at the PSE tower in Taguig.
The numbers are big. Mynt sold its shares at P6.60 each and raised P60.9 billion, counting the extra shares from the fully used overallotment option. No company in the country has raised more in a stock market debut. The previous record holder, Monde Nissin, raised P55.89 billion back in 2021.
If you saw the headlines and wondered whether this matters to you, or whether you should buy in, this is a plain walk-through of what happened on day one, how ordinary users can own a piece of GCash, and what to think about before putting money in.
How the First Day of Trading Went
GCASH opened at P6.60, exactly its offer price. Within the first hour it climbed to about P6.73, and at one point it reached P6.76. Selling picked up in the afternoon, though, and the stock finished the day flat at P6.60.
A flat close can look like a letdown, but it is not unusual for a large listing. When a company sells billions of shares at once, there are plenty of holders ready to take a quick profit as soon as the price ticks up. What a stock does on its first day says little about where it will be in a year.
At P6.60 a share, Mynt is worth about P441.5 billion, or roughly $7 billion. PSE president Ramon Monzon said that makes it the seventh-largest domestic company listed on the exchange.
Who Bought In
Most of the shares went to big investors. Nineteen foreign and six local cornerstone investors took 59.8 percent of the offer before trading even started, and the institutional portion was several times oversubscribed during bookbuilding.
The part that stands out for regular Filipinos is the retail side. A total of 140,725 GCash users put in about P1.1 billion through GStocks PH, the stock trading feature inside the app, which is run by AB Capital Securities. For many of them, it was the first time they had ever owned shares in a listed company. About 80 percent of Mynt's own employees are now shareholders too.
How to Buy GCASH Shares Now
The IPO offer period is over, so new shares are no longer sold at a fixed P6.60. From here on you buy at whatever price the market sets that day. There are two common ways to do it.
Through the GCash app. Open GInvest and look for GStocks PH. You will need a fully verified GCash account, and you will go through a separate sign-up for the stock trading account. Once it is approved, you can search for GCASH and place an order.
Through an online stockbroker. Any PSE-accredited broker can buy GCASH for you. If you already trade other Philippine stocks, nothing changes. Just type in the ticker.
Shares trade in board lots. During the IPO, the minimum was 100 shares, which came to P660 at the offer price. The amount you need will move with the share price, and brokers add small fees and taxes on each trade, so check the total before you confirm.
Where the Money Is Going
According to its final prospectus, Mynt plans to put 60 percent of the net proceeds from the new shares it sold into its credit business, the lending side of the app that includes products like GCredit and GLoan. In other words, the company sees its future growth less in payments and more in giving loans to people and small businesses who have trouble borrowing from banks.
That is worth keeping in mind as a shareholder. Lending can earn more than payments, but it also carries more risk if borrowers fall behind, especially when the economy slows down.
The Risks to Think About First
The price is not cheap. Unicapital Securities pointed out that at P6.60, Mynt is valued at about 25.7 times its 2025 earnings. You are paying for growth that still has to happen. The brokerage also warned that a good growth story does not, by itself, make an IPO price fair.
It was priced lower than first planned. When the listing was approved in September, the offer price was set at up to P10 a share. It ended up at P6.60. That can be read two ways: buyers who got in at the IPO paid less than the original ceiling, but it also shows that big investors were not willing to pay the top price.
The timing is shaky. GCash went public during a rough week for the peso, which has slipped to record lows past P63 to the US dollar. A weaker peso and higher interest rates abroad tend to make foreign investors more careful with Philippine stocks.
Only put in what you can leave alone. Shares go up and down, sometimes a lot in a single week. Money for rent, tuition or an emergency fund should stay out of the stock market.
Why This Listing Still Matters
Even if you never buy a single share, the GCash listing changes something about how Filipinos invest. For years, owning stock felt like it was only for people with brokers, big starting amounts and time to read the business pages. Now a farmer in Bukidnon or a call center agent in Cebu can buy into one of the country's largest companies from the same phone they use to pay their electric bill.
Brokerages are hoping that more first-time investors will stay in the market and that more tech and newer companies will follow GCash onto the exchange. Whether that happens depends a lot on how GCASH performs over the next year or two.
If you travel, GCash is already part of the trip. Our arrival guide for eTravel, SIM cards and cash covers setting up the app with a local number, and our ferry versus flight budget guide explains where e-wallets work and where you will still need cash.
Sources
GCash debuts on stock market with record P60.9-B IPO – Rappler, 20 October 2026
GCash goes public with record P60.9-B IPO – SunStar, 20 October 2026
GCash parent Mynt makes PSE debut in record P60.9-B IPO – BusinessWorld, 20 October 2026
GCash operator shares flat after debut at local bourse – BusinessMirror, 20 October 2026
Mynt lists GCash on PSE at P442 billion valuation – The Phil Biz News, 20 October 2026
GCash IPO seen to reenergize local stock market – Philippine Daily Inquirer, 20 October 2026
Mynt locks in $7bn valuation as blockbuster IPO opens to the public – FinTech Futures, 8 October 2026