Maynilad plans Philippines' largest IPO for July 2025

Maynilad Water Services Inc. has announced plans to go public in July. This could be the largest initial public offering (IPO) in the Philippines' history. The company filed its IPO registration with the Securities and Exchange Commission on Monday. Maynilad aims to sell up to 2.46 billion shares. The maximum price for these shares is set at 20 pesos each. If the shares sell at this price, the IPO could raise about 49.1 billion pesos, which is approximately $858 million. This would surpass the previous record set by Monde Nissin Corp. in 2021. The final number of shares and their price will be confirmed after a book-building process. Maynilad plans to offer shares from June 25 to July 2, with trading expected to start on July 10. The company intends to use the funds raised for its capital expenditures. As part of a legislative requirement, Maynilad must sell at least 30% of its shares to the public by January 2027. Currently, many companies in the Philippines are delaying their IPOs due to poor market conditions. For example, GCash, a major mobile wallet provider, has also chosen to postpone going public. Some reports suggest that Maynilad's IPO could raise between $1 billion to $1.5 billion.