Manila Water Rises Most in Month Following Saigon Stake Purchase

Manila Water Co. (MWC) shares rose the most in a month on the Philippine Stock Exchange following an agreement by the utility’s South Asia unit to purchase a 31.5 percent stake in Saigon Water Infrastructure Corp.

Manila Water, which serves half of the Philippine capital, closed 2.1 percent higher at 31.60 pesos, the second-biggest gainer today on the 19-member Bloomberg World Water Index. The stock has slipped 1.3 percent this year compared with a 1.7 percent gain by the water index.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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