(Photo courtesy of PNA)
MANILA – President Ferdinand Marcos Jr. reaffirmed his administration’s commitment to improving the country’s business environment as he welcomed the initial public offering (IPO) of Mynt Inc., the parent company of digital wallet platform GCash.
Speaking during Mynt’s listing ceremony at the Philippine Stock Exchange (PSE) Tower in Taguig City on Tuesday, October 20, Marcos described the IPO as an encouraging development for the Philippine capital market amid cautious investor sentiment.
“The timing of this listing is especially meaningful, as our stock market needs renewed investor interest and broader participation,” Marcos said.
He assured investors that the government would continue implementing reforms aimed at strengthening market confidence, encouraging investments, and making the capital market more accessible.
Mynt conducted its IPO from October 6 to 12 at Php 6.60 per share, raising approximately Php 53 billion through the sale of more than eight billion shares.
The offering attracted demand from over 20 local and international institutional investors.
Marcos said the listing demonstrated continued interest in Philippine businesses despite challenges in attracting fresh capital.
“We recognize that investors have become more cautious and that attracting fresh capital remains a challenge. But Mynt’s initial public offering gives us reason for optimism,” he said.
The President also highlighted the opportunity for ordinary Filipinos to participate in the stock market through digital platforms.
Qualified GCash users were allowed to subscribe to Mynt shares through GStocks PH, powered by AB Capital Securities Inc., with a minimum investment of Php 660 for 100 shares.
Marcos said the initiative showed how financial technology could make investment opportunities more accessible to the public.
“This just shows that digital technology can make investment opportunities more accessible to everyone,” he said.
He expressed hope that Mynt’s listing would encourage more Filipino companies to explore the stock market as a source of capital for business expansion.
The President also urged private sector investors to support enterprises and emerging technologies that generate employment and create economic opportunities.
“For its part, the government will continue to work to improve the ease of doing business, promote fair competition, and to support responsible innovation,” Marcos said.
He reiterated that strengthening investor confidence and developing a more inclusive capital market would remain priorities of his administration.
