MANILA: The company behind the Philippines’ biggest mobile wallet GCash is preparing what may become the country’s biggest initial public offering (IPO) ever, seeking to raise as much as 92.3 billion pesos (US$1.5bil).

Mynt Inc expects to sell up to 9.23 billion shares, including through an over-allotment option, at up to 10 pesos apiece, according to a person with knowledge of the matter.