The offer runs from Oct. 23-29, ahead of its planned listing on the Philippine Stock Exchange on Nov. 7 under the ticker MYNLD.
Each share is priced at P15, covering 1.66 billion shares, plus an allotment to First Pacific and additional shares available through overallotment and upsize options.
BPI Capital Corp. leads the domestic underwriting, while HSBC, Morgan Stanley Asia (Singapore) Pte., and UBS AG Singapore Branch serve as international underwriters and joint global coordinators.
Big investors behind the deal
The offering is backed by major cornerstone investors, led by International Finance Corp. (IFC) and the Asian Development Bank (ADB).
Local cornerstone investors include BDO Capital, BPI Asset Management and Trust, Metrobank Trust, and Security Bank Trust, while international investors include abrdn Malaysia, the UK Foreign, Commonwealth & Development Office, Maven Investment Partners, Maybank Asset Management Singapore, Robeco Switzerland, and QRT Master Fund (Torus Fund SP).
Proceeds from the IPO will fund Maynilad’s capital expenditure program and other corporate purposes, supporting its long-term investments in water infrastructure and service reliability.
—Edited by Miguel R. Camus
