Southeast Asia ·
GCash parent Mynt clears the way for a record $1.5B Philippine IPO at an $8B valuation
The Ant Group and Globe Telecom-backed fintech won Philippine SEC clearance to file for what would be Southeast Asia’s largest fintech listing to date, a bellwether for regional digital-payments exits.
A $1.5B Philippine listing would be Southeast Asia's largest fintech IPO to date, and a genuine bellwether: the region's digital-payments companies have mostly stayed private far longer than their valuations would suggest, and Mynt clearing local regulatory approval is a signal that path is opening up.
Ant Group's and Globe Telecom's continued backing through to a public listing, rather than an earlier private exit, suggests both strategic shareholders see more upside in staying in through the IPO than in selling down via a private secondary beforehand.
Source: BusinessWorld / Bloomberg ↗