Mynt Inc., the parent company of top Philippine e-wallet GCash, is tweaking the timetable for its record-breaking initial public offering (IPO) to accommodate President Ferdinand R. Marcos Jr.’s attendance at its Philippine Stock Exchange (PSE) listing ceremony.

A source disclosed to Manila Bulletin on Wednesday, Aug. 26, that President Marcos has accepted an invitation to grace the listing ceremony for what is poised to become the Philippines’ biggest IPO at the PSE trading floor on Oct. 20, 2026.

As a result, Mynt’s listing date has been moved to Oct. 20 from the original Oct. 19. Bloomberg reported that the IPO will now be priced on Oct. 1 instead of Sept. 28, while the offering period will run from Oct. 6 to 12 instead of Oct. 5 to 9.

“The changes are minor and won’t factor into investor sentiment for the stock,” said Abacus Securities Corp.

However, the brokerage said that, while the indicative offering price is a maximum of ₱10 per share, “feedback is that market participants are clustering around ‘below ₱7’ in terms of a price that would be attractive for Mynt.”

“We have not yet seen the updated prospectus but after second-quarter earnings came in slightly below the pace to meet our initial 2026 forecasts, we are inclined to say that the offer price would have to be closer to ₱6 to make us more enthusiastic,” it added.

Abacus explained that, at this level, the stock would probably trade at 15 to 16 times its 2027 earnings per share.

“We are sure management has more aggressive forecasts, and they would thus try to push for a higher pricing on Oct. 1. As we said previously, however, we believe the risks are tilted asymmetrically toward the downside and our final recommendation will take this into consideration,” the brokerage said.

Mynt is aiming to sell to the public a 13.8-percent stake to raise up to a record $1.5 billion, 50 percent more than the $1-billion IPO of current record holder Monde Nissin Corp.

The firm is planning to offer up to 9.23 billion shares, including an overallotment option, at a maximum price of ₱10 per share.

The shares to be offered, including the overallotment option, would represent 13.8 percent of Mynt’s outstanding capital stock, higher than the 12-percent minimum required by regulators for an IPO of this size.

“This is a very big deal—it will be the largest IPO the Philippine market has ever seen, and that immediately raises the bar in terms of execution and investor demand. The local market simply hasn’t absorbed something of this size in recent years,” Reyes Tacandong & Co. Senior Adviser Jonathan Ravelas said earlier.

He noted that the real issue is valuation.

“At roughly an $8-billion level, investors will expect strong earnings visibility and sustained growth—this is no longer a startup premium story.”

Despite its size, Ravelas said the market can still absorb the offering, although this will likely depend heavily on cornerstone and foreign investors. In the short term, he said the IPO could pull liquidity away from other stocks or even delay smaller offerings.

“Bottom line: this IPO can be a game-changer for the Philippine market if priced and timed correctly—but if it’s too aggressive, it risks overwhelming liquidity. So success here is less about hype, and more about disciplined pricing and smart execution,” Ravelas said.

Chinabank Capital Corp. managing director Juan Paolo Colet also believes that “A combination of foreign and domestic liquidity can absorb the offer size. As long as the valuation is reasonable and the fintech story remains bright, then this mega-IPO is well-positioned for a strong market debut.”