Maynilad's Massive Move: A Mega IPO on the Horizon
Maynilad Water Services Inc has filed a preliminary prospectus for its initial public offering (IPO) with the Philippine Stock Exchange. This substantial IPO could become the largest listing in the country this year. The proceeds are earmarked for water projects and system upgrades.
Maynilad Water Services Inc has taken a crucial step towards launching an initial public offering by filing a preliminary prospectus with the Philippine Stock Exchange and regulators. This move positions the company for what could be the most significant IPO in the Philippines this year.
Announcing the submission, Maynilad President and CEO Ramoncito Fernandez emphasized its commitment to providing safe, reliable, and sustainable water services. The precise financial target of the IPO remains undisclosed, though sources suggest it may exceed $500 million, with Morgan Stanley and UBS advising.
The company, partly owned by Metro Pacific Investments, DMCI Holdings, and Marubeni, delayed its IPO from July to November 7. Funds from the IPO will enhance water infrastructure and services, especially benefitting Metro Manila's west zone and Cavite province.
(With inputs from agencies.)
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