MAYNILAD Water Services Inc., the Philippines’ largest water concessionaire, made its debut on the Philippine Stock Exchange on Friday under the ticker MYNLD, following the completion of its initial public offering.
The company sold 1.66 billion primary shares to the public and 24.9 million shares to First Pacific Co. Ltd., with an additional 354.7 million shares offered through an option exercised in October.
Proceeds will fund capital expenditures and corporate projects. Maynilad attracted 12 cornerstone investors, including IFC, the Asian Development Bank, and several global funds. Chief executive officer Ramoncito Fernandez said the IPO will support long-term expansion and sustainability plans. / KOC