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RESERVOIR. Maynilad’s Molino-Paliparan Reservoir in Bacoor, Cavite, one of 37 reservoirs of the water company.
Maynilad
If approved by regulators, Maynilad’s IPO will be the largest since Monde Nissin’s P48.6 billion debut offering in 2021
MANILA, Philippines – Maynilad Water Services Incorporated (Maynilad) could make its stock market debut on July 10 as the water concessionaire filed its application for an initial public offering (IPO) with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
In a statement on Monday, March 17, Maynilad, which provides water and wastewater services in the west zone of Metro Manila, said it aims to raise around P49.1 billion by offering around 2.46 billion common shares at a maximum price of P20 apiece.
The final number of shares and its price is subject to change after the book-building process and regulatory approvals.
These shares represent around 30.45% of Maynilad’s total issued and outstanding capital stock, well above the 20% public float requirement of regulators.
Public companies are currently required to have at least 20% of their shares available for public trading.
If approved, Maynilad’s IPO will be the largest since Monde Nissin’s P48.6 billion debut offering in 2021.
The Manny V. Pangilinan group’s water concessionaire aims to hold an offer period from June 25 to July 2, with its listing on July 10.
Maynilad will use the proceeds of the IPO to fund its 2025 to 2026 capital expenditures, which will focus on three pillars: water, wastewater management, as well as customer service and information system projects.
Part of the proceeds may also be used for general corporate purposes.
An IPO is the process of offering shares of a firm to the public, allowing the company to raise capital from the public investors.
Financial services provider Unicapital earlier voiced its optimism for the IPO market in 2025, with the firm seeing four companies going public this year.
“The Philippine stock market is currently undervalued compared to regional peers, creating opportunities for investors,” Unicapital’s senior vice president for investment banking Pamela Victoriano said.
“With favorable market conditions, we anticipate more companies tapping the public markets in 2025.”
The PSE index closed 0.19% higher in Monday trade. – Rappler.com
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