Maynilad Files For What May Be Philippines’ Largest IPO
- Maiden share sale may start as early as June, listing in July
- Southeast Asian country is seeing a dearth of IPOs this year
Maynilad said it will use the IPO proceeds to finance its capital expenditures.
Source: Maynilad Water ServicesThis article is for subscribers only.
Philippine utility firm Maynilad Water Services Inc. said on Monday it plans to list in Manila’s stock exchange in July to cap off a share sale that could be the country’s biggest-ever initial public offering.
Maynilad has filed its IPO registration with the Securities and Exchange Commission as it aims to sell as much as 2.46 billion shares at a maximum price of 20 pesos apiece. The figure includes overallotment and upsize options.