Maynilad cuts IPO size to P45.8B, offers up to 2.29B shares at P20 each

Maynilad Water Services Inc. has downsized its initial public offering (IPO) to P45.8 billion from a previous target of up to P49 billion.

The revised IPO will offer up to 2.29 billion common shares at a maximum price of P20 each, reflecting expectations of market conditions and global trade tensions.

Maynilad remains confident in the process despite the reduction, citing positive preliminary investor feedback but noting that formal demand assessment has yet to be conducted.

The IPO's listing date on the Philippine Stock Exchange (PSE) is set for July 17, with the offer period scheduled from July 3 to July 9.

Maynilad will announce the final IPO price by July 1 and must offer at least 30% of its shares to the public by January 2027 as mandated by law.