Ayala Corporation Ups Investment in GCash Parent Mynt to 13%

Ayala Corporation, through AC Ventures, is increasing its stake in Mynt, the parent company of GCash, to 13% by acquiring additional shares worth P22.9 billion. This move underscores Ayala's commitment to fostering financial growth in the Philippines.

PRNewswire Manila [Philippines], August 2: Ayala Corporation, via its subsidiary AC Ventures Holding Corp. ("ACV"), is set to boost its stake in Globe Fintech Innovations, Inc. ("Mynt"), the parent company of the leading finance super app in the Philippines.

On Thursday, Ayala disclosed that ACV has signed a definitive agreement to buy additional common shares from existing shareholders, increasing its ownership in Mynt by approximately 8%, valued at around P22.9 billion. This transaction appraises Mynt at roughly P286.4 billion and raises Ayala's total stake to 13%. The strategic investment aligns with Ayala's initiative to redeploy capital towards high-performing ventures.

The increased stake is poised to capitalize on GCash's impressive growth potential. Dominating the digital payment landscape, GCash offers substantial market opportunities. Mynt reported a net income of P6.7 billion in 2023, triple compared to the previous year. "We are optimistic about Mynt's long-term growth. As a leader in a burgeoning sector, Mynt significantly contributes to the Philippine economy and empowers underserved communities," remarked Cezar Consing, Ayala Corporation's President & CEO.

Ayala Corporation, a 190-year-old conglomerate, holds significant influence across several sectors, including real estate, banking, and telecommunications, and is increasingly involved in fintech and other emerging industries.

Mynt, the first USD 5 billion unicorn in the Philippines, leads in mobile financial services, driving financial inclusion through its cutting-edge technology and mobile platforms like GCash and Fuse Lending.

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