Maynilad Water Services Inc. has priced its initial public offering (IPO) at P15 per share, valuing its stock market debut this month at P34.33 billion.
In a notice on Tuesday morning, the Philippine Stock Exchange (PSE) said this would be the total IPO size if Maynilad fully exercised its over-allotment and upsize options.
Maynilad will offer up to 2.3 billion shares from Oct. 23 to Oct. 29. The concessionaire will list under the ticker ‘MYNLD’ on Nov. 7, just over a year ahead of its January 2027 deadline with the government.
Its final price comes after its cornerstone investment agreement with International Finance Corp. and Asian Development Bank, both of which committed to invest $245 million into Maynilad’s IPO if the offer price did not exceed P15 each.
Apart from IFC and ADB, the United Kingdom government is also pledging its support for Maynilad’s IPO.