Maynilad Water Services, Inc., the country’s largest private water concessionaire and Southeast Asia’s biggest in terms of active connections and population served, officially made its debut on the Philippine Stock Exchange (PSE) on November 7, 2025, under the ticker symbol “MYNLD.”
The landmark listing marks Maynilad’s entry into the capital markets following its successful initial public offering (IPO), which saw the sale of 1.66 billion primary common shares to the public and 24.9 million shares to First Pacific Company Limited. The company’s shareholders also offered an additional 354.7 million secondary common shares after the upsize option was fully exercised, while UBS AG Singapore Branch and affiliates were granted an overallotment option of up to 249 million primary shares within 30 days from listing.
Proceeds from the IPO will fund Maynilad’s capital expenditure programs, including long-term investments in water and wastewater infrastructure, modernization projects, and other general corporate purposes.
“This milestone opens a new chapter for Maynilad. Beyond fulfilling the terms of our legislative franchise, our IPO strengthens our ability to pursue strategic expansion and reinforces our mission as a sustainability-driven company,” said Ramoncito S. Fernandez, Maynilad President and CEO. “The investor confidence we’ve received underscores trust in our long-term vision of delivering sustainable, reliable, and inclusive water services to our concession and beyond.”
The IPO drew strong participation from twelve cornerstone investors, both local and international. Leading the roster were the International Finance Corporation (IFC) and the Asian Development Bank (ADB). Other international participants included abrdn Malaysia Sdn. Bhd., the UK’s Foreign, Commonwealth and Development Office through its MOBILIST program, Maven Investment Partners Ltd. – Hong Kong Branch, Maybank Asset Management Singapore Pte. Ltd., Robeco Switzerland Ltd., and QRT Master Fund – Torus Fund SP. Local cornerstone investors included BDO Capital & Investment Corporation, BPI Asset Management and Trust Corp., Metropolitan Bank & Trust Company – Trust Banking Group, and Security Bank Corp. – Trust and Asset Management Group.
“This investment reinforces our shared commitment to improving access to clean, reliable water and sanitation services for millions of Filipinos,” said ADB Philippines Country Director Andrew Jeffries. “Upgrading water and wastewater infrastructure will strengthen climate resilience, safeguard public health, and drive sustainable economic growth.”
“IFC is proud to be part of Maynilad’s IPO as it expands wastewater services and enhances water quality for Filipino communities,” added Amena Arief, IFC Country Manager for the Philippines. “This investment reflects IFC’s ongoing efforts to deepen capital markets and promote sustainable infrastructure in the Philippines.”
UBS AG Singapore Branch, BPI Capital Corporation, The Hongkong and Shanghai Banking Corporation Limited, and Morgan Stanley Asia (Singapore) Pte. served as Joint Global Coordinators and Joint Bookrunners for the offering.
With its successful PSE debut, Maynilad sets a precedent for private utilities in the region—turning its growth strategy into a model for sustainable infrastructure development and inclusive access to clean water across the Philippines.
