Core Viewpoint - Globe Telecom, Inc. announced that the Securities and Exchange Commission (SEC) approved a planned stock split for Globe Fintech Innovations Inc. (Mynt), operator of the e-wallet GCash, which aims to make an upcoming initial public offering (IPO) more affordable [1][2]. Group 1: Stock Split Details - The stock split will increase the number of common shares to 71,659,120,400 with a par value of three centavos per share, while the authorized capital stock remains at P2,149,773,612.00 [2]. - The stock split reduces the par value from P1 to three centavos, effectively increasing the number of shares available [2]. Group 2: IPO Preparations - Globe's CFO indicated that preparations for the GCash IPO are underway, aiming for a "push-button ready" status once market conditions improve [3]. - The company is targeting an IPO valuation of approximately $8 billion, with plans to launch either this year or next, depending on market conditions [3]. Group 3: Market Reaction - Following the announcement, Globe shares increased by P5.00, or 0.35 percent, reaching P1,450.00 per share, amidst a slight gain in the Philippine Stock Exchange index [4].
GCash operator Mynt stock split OKd by SEC
The Manila Times·2025-10-28 16:26