Globe Telecom (PSE:GLO) affiliate Mynt has fixed the final offer price for its proposed initial public offering at 6.60 pesos per share, according to a Friday filing to the Philippine Stock Exchange.
Globe's major shareholder, Singapore Telecommunications (SGX:Z74), also published the final pricing. Mynt is the parent company of the Philippine mobile wallet platform GCash.
The IPO involves the offer and sale of 8.03 billion common shares, valuing the base deal at about 53 billion pesos. With an overallotment option of up to 1.20 billion secondary common shares, the total offering could reach 60.9 billion pesos if fully exercised.
The proposed listing remains subject to final conditions set by the Philippine Securities and Exchange Commission and the Philippine Stock Exchange, including the issuance of a Permit to Sell.
