Maynilad launches P34.3 billion IPO, largest of the year

Maynilad Water Services Inc. has launched its initial public offering (IPO) aiming to raise as much as P34.3 billion, marking the country's largest and final market debut of the year.

The IPO, priced at P15 per share, will run from October 23 to October 29, with shares set to be listed on the Philippine Stock Exchange on November 7 under the ticker symbol MYNLD.

The offering includes an overallotment option and may be upsized, with the company clarifying it will not receive proceeds from the sale of MWHCI's shares if the upsize option is exercised.

Proceeds from the IPO will be utilized for capital expenditures and general corporate purposes.

The transaction values the firm at approximately P151 billion if all overallotment and upsize options are exercised.

Maynilad, the largest private water concessionaire in the Philippines, serves over 10 million customers in western Metro Manila and nearby provinces.

BPI Capital Corp. is the domestic lead underwriter, while HSBC, Morgan Stanley, and UBS are the international underwriters and joint global coordinators.