Globe Telecom (PSE:GLO) affiliate Mynt has received an order of registration and a certificate of permit from the Securities and Exchange Commission of the Philippines to offer securities for sale in relation to its initial public offering, according to a Monday filing to the Philippine Stock Exchange.
SEC's permit covers Mynt's offer and sale to the public of 8.03 billion common shares with an overallotment option of up to 1.20 billion secondary common shares.
Globe's major shareholder, Singapore Telecommunications (SGX:Z74), also published the notification. Mynt is the parent company of the Philippine mobile wallet platform GCash.
Recently, Mynt has fixed the final offer price for its proposed IPO at 6.60 pesos per share.
