The Securities and Exchange Commission has approved Maynilad’s listing plan, which covers both primary and secondary shares. Maynilad will offer up to 1.66 billion common shares to the public at a maximum price of P20 each, with an overallotment option and a preferential tranche for select investors.
In addition, Maynilad Water Holding Co. will sell 354.7 million secondary shares, with the proceeds going to the shareholder, not Maynilad. The combined offering could hit P45.78 billion if fully subscribed at the top-end price.
The bulk of Maynilad’s proceeds will go to funding capital expenditures and corporate needs.
The offer period runs from July 3 to 9, with shares expected to list on the Philippine Stock Exchange on July 17.
This IPO marks the second major listing of 2025, testing investor appetite after a slow start to the year.
BPI Capital, HSBC, Morgan Stanley, and UBS are handling the deal as joint global coordinators and bookrunners.
Maynilad, backed by tycoons Manuel V. Pangilinan, Consunji-led DMCI Holdings, and Japan's Marubeni, serves over 10 million people in Metro Manila and nearby areas, is looking to fund growth as it faces rising demand and operational costs.
