Maynilad files for IPO

MANILA, Philippines –  Maynilad Water Services Inc. may make its stock market debut by July 10 as it prepares what may be the country’s largest initial public offering (IPO) to date.

The concessionaire said in a statement on Monday that it had filed a registration statement with the Securities and Exchange Commission and listing application with the Philippine Stock Exchange for its IPO valued at as much as P49 billion.

READ: Maynilad plans P49-B IPO this year

A total of 1.78 billion primary common shares will be offered to the public, while 36.31 million primary common shares will be offered to First Pacific Co. Ltd.

There will be an overallotment option of up to 266.31 million shares in case of high demand. Maynilad may also upsize the offer by up to 379.3 million common shares.

In all, this represents 30.45 percent of Maynilad’s total issued and outstanding capital stock post-IPO.