IFC greenlights P4.4 billion bet on GCash IPO

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September 26, 2026 | 12:00am

MANILA, Philippines — The International Finance Corp. (IFC) has approved its P4.4-billion investment in the initial public offering (IPO) of GCash operator Mynt Inc.

In its updated disclosure, the IFC said the investment in Mynt as a cornerstone investor was approved on Sept. 18.

IFC also said that the investment is now “pending signing.” 

A project with a “pending signing” status means that the IFC’s board of directors has approved the investment, but has not yet signed the legal agreements with the client.

IFC’s investment in Mynt will come from its own account. 

IFC is among the cornerstone investors that have agreed to buy P36.5 billion of Mynt’s offer shares.

The cornerstone shares are expected to represent 59.8 percent of the offer shares, assuming the full exercise of overallotment option. 

Cornerstone investors are those who commit to purchase shares before the IPO opens to the general public.

Apart from the World Bank’s private sector arm, other international cornerstone investors include BlackRock Inc., Capital Research and Management Co., Albizia Capital Pte. Ltd., Amundsen Investment Management, Citadel Multi-Strategy Equities Master Fund Ltd, FIL Investment Management (Hong Kong) Limited, HSBC Global Asset Management (UK) Limited, Lazard Asset Management LLC, Ninety One North America Inc., Ninety One UK Limited, NS Partners Ltd, RWC Asset Advisors (US) LLC, RWC Asset Management LLP, Schroder Investment Management Limited and T. Rowe Price International Ltd.

Meanwhile, the domestic cornerstone investors are ATRAM Trust Corp., BPI Asset Management and Trust Corp., China Bank Capital Corp.,