Philippine Stock Exchange Inc. (PSE) president and chief executive officer Ramon Monzon is hoping that Maynilad Water Services Inc.’s upcoming initial public offering (IPO) will spur interest and encourage more companies go public.
Monzon expects Maynilad’s maiden issuance later this month to be the final IPO for the country this year.
Maynilad targets to list on the main board of the PSE on Nov. 7 and trade its shares using the stock symbol, MYNLD.
‘Maynilad is definitely a welcome addition to PSE’s roster of listed companies, especially as it is known to serve the largest population in a single water concession area,’ Monzon said.
Monzon said the prospect of Maynilad’s P45.77-billion IPO, which is one of the biggest maiden offerings in PSE history, has also been bolstered by the numerous cornerstone investors that have agreed to support the capital raising activity.
‘We hope this brisk demand from institutional investors will spark renewed interest and confidence in other companies to likewise tap the stock market for fund raising,’ he said.
Maynilad will be selling up to 1.66 billion primary common shares to the public and a preferential offer of up to 24.90 million primary common shares to First Pacific Co. Ltd. from Oct. 23 to 29, 2025.
The IPO will also have an overallotment option shares of up to 249.05 million primary common shares and an upsize option of up to 354.70 million secondary common shares.
Proceeds from the sale of primary shares will be used by the company for its capital expenditure program for water, wastewater and customer service information system projects, as well as for general corporate purposes.
Monzon said that another positive development for Maynilad was the recognition given by the Securities and Exchange Commission (SEC) to the water utility as the country’s first Philippine Green Equity label, affirming its continuing adherence to sustainability standards.
The Green Equity label, which was launched by the SEC last month, is handed to a PSE listed company or a company that is going public with more than 50 percent of their revenues and investments earned from or directed toward green activities.
‘We are pleased that Maynilad was granted the first Green Equity label. This landmark recognition ties in with PSE’s thrust of supporting green finance initiatives,’ Monzon said.
Maynilad’s IPO, which has been approved by the PSE, will be the second maiden offering this year, following Top Line Business Development Corp.’s P732.6 million IPO in April.