Maynilad postpones IPO to end-October due to market conditions

Maynilad Water Services Inc. has postponed its initial public offering (IPO) to no later than end-October 2025, citing market conditions and potential demand from cornerstone investors.

The company initially planned to debut in the stock market next month but is now delaying the IPO due to global geopolitical tensions caused by recent events between the United States and Iran, according to analysts.

Maynilad serves the West Zone of the Metropolitan Waterworks and Sewerage System (MWSS) and has submitted an updated timetable for the IPO to the Securities and Exchange Commission and the Philippine Stock Exchange.

The utility provider is set to offer 1.93 billion primary shares and 354.7 million secondary shares at up to P20 apiece, with a total potential offering of up to P37.41 billion if all options are exercised.

Proceeds from the IPO will be used for capital expenditures and corporate general purposes, while BPI Capital Corp., HSBC, Morgan Stanley Asia, and UBS AG are serving as joint global coordinators and bookrunners.