Maynilad Water Services Inc. has started its initial public offering (IPO), opening the doors to the country’s largest and last stock market debut of the year.
In a statement on Thursday, the concessionaire said it had received a permit to sell from the Securities and Exchange Commission. The shares will be offered and sold at P15 each, with Maynilad potentially raising up to P34.33 billion from its IPO. It will list under the ticker ‘MYNLD’ on Nov. 7. BPI Capital Corp. was the domestic lead underwriter for the IPO, while The Hongkong and Shanghai Banking Corp. Ltd., Morgan Stanley Asia (Singapore) Pte. and UBS AG, Singapore Branch acted as international underwriters. /dda