Latest news with #Maynilad
GMA Network
23-06-2025
- Business
- GMA Network
Maynilad IPO pushed back to October 2025
West zone concessionaire Maynilad Water Services Inc. has postponed its planned initial public offering (IPO) by four months to give cornerstone investors more time to complete internal processes for them to participate. Based on the company's updated prospectus, Maynilad is now looking to list on the main board of the Philippine Stock Exchange (PSE) under the trading symbol 'MYNLD' no later than the end of October 2025. Maynilad moved the timetable from the earlier planned offer period of July 3 to July 9 and listing on July 17, citing potential demand from strategic cornerstone investors. 'These investors have conveyed strong and sustained interest in participating in the offering, but requested additional time to complete their internal approval processes,' it said in a statement. 'The potential participation of these investors is expected to add even more value to Maynilad's public offering and will be viewed positively by all investors and the markets at large,' it added. The utility provider is set to offer 1,680,317,400 common shares at up to P20 apiece, with an overallotment option of up to 249,047,600 shares and a preferential offer of up to 29,904,800 shares. It is set to net up to P37.41 billion, should the overallotment option and preferential offer be fully subscribed. Proceeds are set to bankroll the company's capital expenditures, and corporate general purposes. Maynilad tapped BPI Capital Corp., The Hongkong and Shanghai Banking Corporation Limited (HSBC), Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch as joint global coordinators and joint bookrunners for the offer. Under its franchise signed into law by former President Rodrigo Duterte in December 2021, Maynilad is mandated to offer at least 30% of its outstanding capital stock within five years. Maynilad currently serves customers in the west zone, which covers the cities of Caloocan, Las Piñas, Makati, Malabon Manila, Muntinlupa, Navotas, Parañaque, Pasay, Quezon, Valenzuela. It also services certain areas in Cavite such as the cities of Bacoor, Cavite, and Imus; and the towns of Kawit, Noveleta, and Rosario. —AOL, GMA Integrated News
GMA Network
13-06-2025
- Business
- GMA Network
Water rates to adjust starting July 1, 2025
Starting July 1, 2025, water consumers in Metro Manila and neighboring provinces will see adjustments in their monthly bills as the Metropolitan Waterworks and Sewerage System – Regulatory Office (MWSS RO) is set to implement the approved Foreign Currency Differential Adjustment (FCDA) for the third quarter of the year. The quarterly adjustment will lead to a slight rate increase for Maynilad customers and a modest rollback for Manila Water customers, reflecting movements in foreign exchange rates including the US dollar, Japanese yen, and euro. "Nagkakaroon po tayo ng dagdag-bawas sa ating water bill dahil sa movement ng foreign currency ng yen, US dollar and euro," said MWSS RO Chief Regulator Atty. Patrick Lester N. Ty. (We are experiencing increases and decreases in our water bill due to the movement of foreign currencies such as the yen, US dollar and euro.) "Dahil sa movement ng peso laban sa foreign currencies na yon nagkakaroon po ng adjustment," he added. (Due to the movement of the peso against those foreign currencies, there is an adjustment.) Why foreign currency affect water rates The FCDA is a tariff mechanism reviewed every quarter. It allows concessionaires—Maynilad (West Zone) and Manila Water (East Zone)—to recover foreign exchange losses or return gains related to foreign currency-denominated loans. These loans are used to finance improvements in water supply and wastewater infrastructure. According to Ty, the MWSS Board of Trustees approved the new FCDA rates on May 22, 2025, following a thorough review of the proposals submitted by the two water concessionaires. FCDA adjustment details For Maynilad customers: New FCDA rate: -0.64% of the 2025 average basic charge of ?51.40/cu.m ?0.329 per cubic meter, slightly higher than last quarter's ?0.334 Upward adjustment: ?0.005 per cubic meter For Manila Water customers: New FCDA rate: 1.12% of the average basic charge of ?47.10/cu.m ?0.53 per cubic meter, down from ?0.65 last quarter Downward adjustment: ?0.12 per cubic meter How will this affect your water bill? For Maynilad customers Regular Lifeline customers: 10 cu.m. or below Previous bill: ?181.59 → New bill: ?181.60 (+?0.01/month) 20 cu.m. or below Previous bill: ?682.66 → New bill: ?682.71 (+?0.05/month) 30 cu.m. or below Previous bill: ?1,394.69 → New bill: ?1,394.80 (+?0.11/month) Enhanced Lifeline Customers: Households consuming 10 cu.m. or less with a monthly bill of ?151.04 will not see any increase. For Manila Water customers Regular Residential Customers: 10 cu.m. or below Previous bill: ?255.04 → New bill: ?254.49 (?0.55 rollback) 20 cu.m. or below Previous bill: ?563.92 → New bill: ?562.72 (?1.20 rollback) 30 cu.m. or below Previous bill: ?1,149.66 → New bill: ?1,147.21 (?2.45 rollback) Enhanced Lifeline and Low-Income Consumers: No change will be applied to enhanced lifeline customers who consume 10 cu.m. or less per month. The MWSS encourages all qualified low-income customers, especially those under the Pantawid Pamilyang Pilipino Program (4Ps), to register under the Enhanced Lifeline Rate. This program provides further discounts for households consuming small amounts of water monthly. FCDA The Foreign Currency Differential Adjustment is stipulated under Section 9.8 of the Amended Revised Concession Agreement (RCA) between MWSS and the concessionaires. It ensures that fluctuations in foreign exchange rates do not lead to financial losses—or undue gains—for either party. The current FCDA guidelines were approved after a public consultation held in July 2024 and took effect on August 31, 2024. "We advise the consumers to continue conserving water and to manage their water bills and make sure to check their meters and make sure there's no leaks in their homes," Ty said. —VAL, GMA Integrated News
Wall Street Journal
10-06-2025
- Business
- Wall Street Journal
Maynilad Water Tests Investor Appetite Ahead of What May Be Philippines's Biggest IPO
Philippines utility Maynilad Water Services has started testing investor appetite ahead of an initial public offering that could be the country's biggest ever, people familiar with the matter said. Maynilad, a provider of water and wastewater services in Metro Manila, and its appointed bankers are holding pre-marketing meetings with institutional investors—including mutual funds—to gauge interest in the offering, one of the people said.
Reuters
03-06-2025
- Business
- Reuters
Philippine regulator approves water company Maynilad's $670 million IPO
SINGAPORE, June 3 (Reuters) - Philippine water services company Maynilad has received the go-ahead for its initial public offering on the domestic stock exchange, the Securities and Exchange Commission said. Reuters in January reported that the private waterworks and sewerage and sanitation company had enlisted banks, including Morgan Stanley (MS.N), opens new tab and UBS (UBSG.S), opens new tab, to assist with a more than $500 million IPO in the Philippines. The commission said in a statement that it had approved Maynilad's IPO, covering 1.93 billion primary shares and 354.7 million secondary shares, subject to the company's compliance with certain remaining requirements. The commission added that Maynilad could net up to 37.41 billion Philippine peso ($671.53 million) from the IPO, assuming the overallotment option and preferential offer are fully subscribed. Maynilad is managed by Maynilad Water Holdings Company, a joint venture between infrastructure conglomerate Metro Pacific Investments Corp, construction and nickel mining group DMCI Holdings ( opens new tab and Japanese trading company Marubeni Corp (8002.T), opens new tab. Proceeds will be used to fund the company's capital expenditures and for corporate general purposes. The IPO offer period will run from July 3 to 9, with the shares expected to be listed on the main board of the Philippine Stock Exchange on July 17, the statement showed. Maynilad tapped BPI Capital Corp, HSBC, Morgan Stanley and UBS as joint global coordinators and joint bookrunners for the offer, according to the statement. ($1 = 55.7090 Philippine pesos)
GMA Network
02-06-2025
- Business
- GMA Network
Maynilad secures SEC approval for IPO this July 2025
West zone concessionaire Maynilad Water Services Inc. has secured the approval of the Securities and Exchange Commission (SEC) to proceed with its initial public offering (IPO) this July, as the firm is required to offer at least 30% of its outstanding capital stock as part of its government-issued franchise. Based on its latest timeline submitted to the SEC, Maynilad plans the offer period from July 3 to July 9, with the shares set to be listed on the main board of the Philippine Stock Exchange on July 17. The corporate regulator's En Banc resolved to render effective Maynilad's registration statement covering 1,934 primary shares and 354,704,200 secondary shares on May 30, subject to compliance with certain requirements. Maynilad is set to offer 1,680,317,400 common shares at up to P20 apiece, with an overallotment option of up to 249,047,600 shares and a preferential offer of up to 29,904,800 shares. The company is set to net up to P37.41 billion, should the overallotment option and preferential offer be fully subscribed. Proceeds are set to bankroll the company's capital expenditures, and corporate general purposes. The company earlier planned to raise P49 billion from its IPO by offering 2.46 billion common shares at a maximum price of P20 each. 'The initial numbers, they're all tentative, so don't be surprised if they adjust it, but they're close to make a final determination — the number of shares, how many are primary, how many are secondary,' Maynilad chairman Manuel Pangilinan told reporters on the sidelines of an event last week. 'Some of the shareholders might decide to sell down a bit, and of course, the pricing also. I think in the next few weeks or by next month, within a range, they will announce the range of prices at which the IPO will be offered. So just watch out for that space,' he added. The company tapped BPI Capital Corp., The Hongkong and Shanghai Banking Corporation Limited (HSBC), Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch as joint global coordinators and joint bookrunners for the offer. Under its franchise signed into law by former President Rodrigo Duterte in December 2021, Maynilad is mandated to offer at least 30% of its outstanding capital stock within five years. Maynilad currently serves customers in the west zone, which covers the cities of Caloocan, Las Piñas, Makati, Malabon Manila, Muntinlupa, Navotas, Parañaque, Pasay, Quezon, Valenzuela. It also services certain areas in Cavite such as the cities of Bacoor, Cavite, and Imus; and the towns of Kawit, Noveleta, and Rosario. —KG, GMA Integrated News
