Latest news with #MayniladWaterServices
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.
Zawya
17-03-2025
- Business
- Zawya
Maynilad Water seeks to raise up to $858mln in Philippines IPO
Hong Kong's First Pacific said on Monday its Philippine affiliate, Maynilad Water Services, aims to raise up to 49.15 billion pesos ($857.75 million) through an initial public offering. Under the terms of the deal, Maynilad is offering up to 2.46 billion shares, with an expected offer price of up to 20 pesos each. The total number of shares being offered represented 30.45% of the company's total outstanding shares. If approved, First Pacific said the listing would take place on July 10, with the offer period running from June 25 to July 2. The company has enlisted banks, including Morgan Stanley and UBS, to assist with a more than $500 million initial public offering in the Philippines, Reuters reported in January. In December 2021, the Philippine government granted Maynilad a 25-year franchise to establish, operate and maintain a waterworks system, as well as sewerage and sanitation services in the west zone service area of Metro Manila and the province of Cavite, according to its website. Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. The planned listing adds to a growing pipeline of IPOs in the Philippines, where IPO proceeds surged sharply to $234.1 million last year, from $72.9 million in 2023, according to data compiled by LSEG. Maynilad is managed by Maynilad Water Holdings Company, a joint venture between infrastructure conglomerate Metro Pacific Investments Corp, construction-to-nickel mining group DMCI Holdings and Japanese trading company Marubeni Corp . ($1 = 57.3010 Philippine pesos) (Reporting by Rishav Chatterjee in Bengaluru; Editing by Sherry Jacob-Phillips)
