Maynilad plans P49-B IPO this year

Maynilad Water Services Inc is set to sell shares to the public this year

MANILA, Philippines – Concessionaire Maynilad Water Services Inc. is set to launch the country’s largest initial public offering (IPO) this year, with its stock market debut valued at around P49 billion—possibly topping record holder Monde Nissin Corp.
In a regulatory filing on Friday, Maynilad said its board of directors had approved plans to sell up to 2.46 billion common shares at up to P20 each.

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This will consist of a base offer of up to 1.81 billion shares, with an overallotment option of up to 266.31 million shares. Maynilad may also upsize its offer by as much as 379.3 million shares.
Should the IPO’s final price reach the maximum amount, this would break the record of Monde, which raised P48 billion during its debut in 2021.
Under Maynilad’s concession agreement with the Metropolitan Waterworks and Sewerage System, it needs to offer at least 30 percent of its shares to the public on or before January 2027.