Maynilad sets IPO on Oct. 30

MANILA, Philippines — Maynilad Water Services Inc. has settled on an Oct. 30 stock market debut. This was after a delay that was meant to accommodate cornerstone investors in a highly volatile stock market.

Based on its Aug. 28 preliminary prospectus, Maynilad said it would offer the shares from Oct. 16 to 22.

READ: Maynilad delays IPO to October

While the pricing date is set on Oct. 13, Maynilad aims to raise up to P45.8 billion from its initial public offering (IPO).

The company will offer 1.66 billion common shares with an over-allotment option of up to 249 million shares. Each share could be tagged at as much as P20 each.

READ: Here’s how Maynilad is dealing with water losses (and what you can do to help)

This endeavor likewise includes a preferential offer of up to 24.9 million shares for First Pacific Co. Ltd., a major shareholder.

The company earlier planned to list under the ticker “MYNLD” in July. But the firm later opted for postponement to October to give cornerstone investors more time.