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.
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