Maynilad Water Companies Inc is about to promote shares to the general public this yr
MANILA, Philippines – Concessionaire Maynilad Water Companies Inc. is about to launch the nation’s largest preliminary public providing (IPO) this yr, with its inventory market debut valued at round P49 billion—presumably topping report holder Monde Nissin Corp.
In a regulatory submitting on Friday, Maynilad mentioned its board of administrators had accepted plans to promote as much as 2.46 billion widespread shares at as much as P20 every.
READ: Maynilad pushes for 2025 bourse debut
This may include a base supply of as much as 1.81 billion shares, with an overallotment choice of as much as 266.31 million shares. Maynilad can also upsize its supply by as a lot as 379.3 million shares.
Ought to the IPO’s remaining value attain the utmost quantity, this could break the report of Monde, which raised P48 billion throughout its debut in 2021.
Beneath Maynilad’s concession settlement with the Metropolitan Waterworks and Sewerage System, it wants to supply a minimum of 30 p.c of its shares to the general public on or earlier than January 2027.
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