West Zone water concessionaire Maynilad Water Services, Inc. has revised the timeline for its planned initial public offering (IPO) to allow the participation of key strategic investors who have expressed strong interest but require more time for internal approvals.
In response, Maynilad has submitted an updated IPO timetable to the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). The inclusion of these cornerstone investors is expected to strengthen the offering and enhance investor confidence in the company’s market debut.
Maynilad is working closely with regulators to fulfill all necessary requirements for the IPO. Under the revised schedule, the company is targeting to list on the Main Board of the PSE by the end of October 2025, using the ticker symbol “MYNLD.”
The IPO remains subject to regulatory approvals, including the issuance of the SEC’s Order of Registration and the Certificate of Permit to Offer Securities for Sale.
BPI Capital Corporation is serving as the Domestic Lead Underwriter. The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch are acting as the International Underwriters, collectively known as the Joint Global Coordinators and Joint Bookrunners.
The IPO preparations follow a recent milestone for Maynilad: the company secured a 10-year extension of its Revised Concession Agreement. On June 18, 2025, the Economy and Development Council (EDC) approved the Metropolitan Waterworks and Sewerage System’s (MWSS) request to extend Maynilad’s concession until January 21, 2047. The company considers this extension a strong vote of confidence in its long-term viability and a key factor supporting its decision to pursue a public listing.
