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BUX Names Nontya Mtshaulana as New Compliance Chief

Philippines Maynilad Plans IPO in 2025, CEO Confirms

WikiFX

| 2024-07-12

Abstract：Maynilad Water Services Inc. plans an IPO in 2025 and aims to raise 25-35 billion pesos for capital expenditures, confirms CEO Ramoncito Fernandez.

Maynilad Water Services Inc., a leading utility firm in the Philippines, has announced plans for an initial public offering (IPO) in 2025. This move is part of their 25-year concession agreement, which mandates listing on the stock exchange by January 2027.

CEO Ramoncito Fernandez shared that Maynilad aims to raise between 25 and 35 billion pesos ($430 million to $600 million) next year. This funding will be sourced through a combination of bank loans, bonds, and other financial instruments. The capital will support the company's extensive capital expenditure plans.

Maynilad serves as the water distributor for Manila's west zone, providing essential services to millions of residents. The upcoming IPO and fundraising efforts reflect Maynilad's commitment to improving and expanding its operations to meet the growing demand for reliable water services in the region.

($1 = 58.2550 Philippine pesos)

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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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