Maynilad IPO details still being finalized

Maynilad Water Services Inc. is still finalizing the details of its initial public offering (IPO), with share count and pricing yet to be determined.

Chairman Manuel V. Pangilinan stated that the initial figures are tentative and subject to adjustment in the coming weeks or by next month.

The company is required to offer at least 30 percent of its shares to the public by January 2027 as per its concession agreement with the government.

Maynilad recently reduced its planned IPO size to P45.8 billion from P49 billion, offering fewer shares at a maximum price of P20 each.

The reduction in IPO size was due to market volatility and softer investor demand.

The final pricing of the IPO shares may be determined by June.

First Pacific Co. Ltd. will be offered 24.9 million primary common shares.