Market Chatter: BlackRock Among Investors Eyeing GCash Owner IPO in Philippines

MT Newswires Live
Sep 22

BlackRock (BLK) is among a group of investors set to participate in the initial public offering of Mynt, the operator of Philippine mobile wallet GCash, Bloomberg reported Tuesday, citing people familiar with the matter.

Mynt is expected to raise about 60 billion Philippine pesos ($958.3 million) by selling 9.23 billion shares at around 6.50 pesos each, below the 10 peso maximum set when it filed for the IPO in June, according to the report.

Mynt has more than 90 million registered GCash users, the report said.

BlackRock did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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