Maynilad files for P49.15B IPO with SEC, PSE

Maynilad Water Services Inc., aiming to raise up to P49.15 billion through an initial public offering (IPO), filed its application with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) on Monday, March 17.

The IPO will involve offering up to 2.46 billion common shares at a maximum price of P20 per share, representing about 30.45% of Maynilad's total issued and outstanding capital stock.

Proceeds from the IPO will fund Maynilad's capital expenditure program for water, wastewater, and customer service and information system projects in 2025-2026.

The offer period is set to begin on June 25 and end on July 2, with listing expected on July 10, subject to final regulatory approvals.

Maynilad's IPO could become the country's largest, surpassing Monde Nissin Corp.'s P48.6-billion debut in 2021 if indicative terms remain unchanged.