TAGUIG CITY — Amid a challenging economic climate where securing fresh capital has become increasingly difficult, President Ferdinand Marcos Jr. expressed strong optimism following the historic debut of Mynt, Inc., the parent company of mobile wallet giant GCash, on the Main Board of the Philippine Stock Exchange (PSE) on Tuesday, October 20.
Speaking at the listing ceremony held at the PSE Tower in Bonifacio Global City (BGC), President Marcos highlighted that Mynt’s initial public offering (IPO)—which could raise up to ₱61 billion—serves as a vital catalyst for a stock market eager for renewed energy and broader participation.
”The timing of this listing is especially meaningful, as our stock market needs renewed investor interest and broader participation,” Marcos said in his address, noting that the strong turnout from both domestic and foreign investors proves that “world-class innovation can be built and scaled here in the Philippines.”
While acknowledging that global and domestic market uncertainties have made investors more hesitant, the Chief Executive emphasized that the landmark offering proves enduring trust in local enterprise.
“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,” Marcos stated.
“The strong interest it has attracted from local and international investors is proof of the continued confidence in Filipino enterprise.”
A standout feature of Mynt’s IPO is its unprecedented accessibility for retail investors. Through the GCash app, eligible GStocks PH users were able to purchase shares starting at ₱660 for a 100-share block during the October 6 to 12 selling period.
“In fact, the same phone that Filipinos are using to pay bills, to buy groceries, or send money to their families can now be used also to participate in Mynt’s public offering,” Marcos pointed out, adding, “This just shows that digital technology can make investment opportunities more accessible to everyone.”
Looking ahead, the administration pledged to pursue critical economic reforms aimed at bolstering investor trust, enhancing the ease of doing business, and fostering fair market competition.
The President also expressed hope that Mynt’s success will inspire other homegrown businesses to leverage the stock market for expansion.
“We will continue to pursue reforms that strengthen investor confidence and support the development of our capital market,” Marcos vowed.
“I hope that Mynt’s listing will also encourage other Filipino enterprises to pursue new avenues for growth and explore the stock market.”