Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Manila Water Shares Close at Record High on Cebu Supply Contract

Nov. 19 (Bloomberg) -- Manila Water Co. shares closed at a 7 1/2-year high after the company and Metro Pacific Water Investments Corp., which has a stake in Maynilad Water Services Inc., formed a partnership for a water venture in Cebu.

The Cebu bulk water supply project, a public-private partnership project, will provide 35 million liters (9.23 million gallons) a day of water. Manila Water supplies water to half of the Philippine capital while Metro Pacific’s operations range from real estate to sanitation services.

The water utility’s shares advanced 3 percent to 32.15 pesos, the highest close since the stock started trading March 2005. The stock has surged by 66 percent this year. Earlier this year, the Manila Water consortium signed a joint venture with Cebu’s government to develop the first long-term bulk water supply project in the province.

Link to Company News:{MWC PM <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.