The Philippine Securities and Exchange Commission has cleared the initial public offering of Maynilad Water Services, Inc by rendering its registration statement effective, subject to compliance with remaining requirements. The Commission En Banc resolved on May 30 to approve the registration covering 1,934,269,800 primary shares and 354,704,200 secondary shares. Maynilad plans to offer up to 1,660,317,400 common shares at up to PHP 20 per share, with an overallotment option of up to 249,047,600 shares and a preferential offer of up to 24,904,800 shares. Secondary shares included in the offer will be sold by Maynilad Water Holding Company, Inc, and Maynilad will not receive proceeds from those secondary shares; assuming full subscription of the overallotment option and preferential offer, Maynilad could net up to PHP 37.41 billion to fund capital expenditures and general corporate purposes. Under the latest timeline submitted to the SEC, the offer period is scheduled for July 3 to 9, with listing on the main board of the Philippine Stock Exchange expected on July 17. BPI Capital Corporation, The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch were appointed as joint global coordinators and joint bookrunners.
Philippine Securities and Exchange Commission 2025-06-02
Philippine Securities and Exchange Commission clears Maynilad Water Services IPO for up to PHP 37.41 billion raise
The Philippine Securities and Exchange Commission has approved Maynilad Water Services, Inc's initial public offering, subject to compliance with remaining requirements. The offering includes 1,660,317,400 common shares at up to PHP 20 per share, with an overallotment option and preferential offer potentially netting Maynilad up to PHP 37.41 billion. BPI Capital Corporation, HSBC, Morgan Stanley Asia, and UBS AG are appointed as joint global coordinators and bookrunners.