Latham Advises on Mynt’s ₱53 Billion IPO

Latham & Watkins has advised the domestic underwriters and international bookrunners on the ₱53 billion (approximately US$844 million) initial public offering (IPO) of Mynt, Inc. (Mynt) on the Philippine Stock Exchange (PSE). Mynt is the parent company of the Philippines’ leading finance super app, GCash – a widely used platform for daily financial transactions expanding access to digital financial services across the country.

The offer comprised 8,027,409,600 common shares at an offer price of ₱6.60 per share, representing one of the largest IPOs in the Philippines. If the overallotment option of up to 1,204,111,400 secondary common shares is fully exercised, the landmark offering could raise up to ₱60.9 billion (approximately US$970 million) to become the largest ever IPO in Philippine history and the largest in the ASEAN since 2021.

The Latham team was led by Hong Kong partner Benjamin Carale, with associate Diana Dizon, Singapore associate Margarita del Rosario, and Foreign Legal Consultant Jose Mendoza.