Inquirer
UBS concludes price stabilization of Maynilad IPO shares
Maynilad Water Services Inc. has concluded its initial public offering (IPO) share price support period, with its agent buying back a significant number of shares to stabilize its stock.
UBS AG Singapore Branch, acting as the stabilization agent, repurchased a total of 144,293,700 Maynilad shares between November 7 and December 5.
These share buybacks were executed in accordance with the approved price stabilization mechanism and the overallotment option.
The acquired shares will be returned to Maynilad, as approved by the Securities and Exchange Commission.
This action formally closes the post-offering price support activities for Maynilad's equity sale.
Since its IPO on November 7, Maynilad's shares have seen an increase of nearly 9 percent as of mid-day trade on Wednesday.
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