WEST Zone concessionaire Maynilad Water Services Inc. (Maynilad) has updated its proposed initial public offering (IPO) timetable in response to robust potential demand from strategic cornerstone investors.
These investors have conveyed strong and sustained interest in participating in the offering, but requested additional time to complete their internal approval processes.
To give way to their inclusion, Maynilad has submitted an updated timetable to the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
The potential participation of these investors is expected to add even more value to Maynilad’s public offering and will be viewed positively by all investors and the markets at large.
Maynilad continues to coordinate with regulators and is proceeding with all necessary requirements for the proposed IPO. Based on the updated timetable filed with the SEC and PSE, the target listing date on the Main Board of the PSE will be no later than end of October 2025, under the trading symbol “MYNLD.”
The proposed IPO remains subject to the issuance of the SEC Order of Registration and Certificate of Permit to Offer Securities for Sale, as well as full compliance with regulatory conditions.
BPI Capital Corporation serves as the Domestic Lead Underwriter, while The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch act as the International Underwriters (collectively, the “Joint Global Coordinators and Joint Bookrunners”).
Maynilad also recently secured approval for a 10-year extension of its Revised Concession Agreement. On June 18, 2025, the Economy and Development Council (EDC) approved the request of the Metropolitan Waterworks and Sewerage System (MWSS) to extend the concession to January 21, 2047. Maynilad views this extension as an affirmation of the Company’s fundamentals and long-term prospects and supports the Company’s move for an IPO. (PR)