Insider Spotlight
“These investors have conveyed strong and sustained interest in participating in the offering, but requested additional time to complete their internal approval processes,” the company said in a statement on the evening of Sunday, June 22, 2025.
Why it matters:
The water utility for Metro Manila's western part said the move signals strong institutional demand, with firm opting to accommodate high-value participants rather than rush the listing. The presence of cornerstone investors could improve investor sentiment and provide stability to the offer.
What’s next:
Maynilad has filed an updated IPO schedule with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE), targeting a listing on the Main Board by end-October 2025 under the symbol MYNLD.
“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,” it said.
The big picture:
The postponement comes amid an anemic equities market that is expected to take a further hit due to the growing conflict in the Middle East. Launching an IPO at this time will likely result in lower valuations due to the increased market risk and volatility.
The offering remains subject to regulatory approvals, including the SEC’s Order of Registration and Certificate of Permit to Offer Securities for Sale.
Go deeper:
Maynilad also recently secured a 10-year extension of its Revised Concession Agreement. On June 18, the Economy and Development Council approved the MWSS’ request to extend Maynilad’s West Zone concession until 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,” the company said.
— Edited by Daxim L. Lucas
