Nelson Morales

Article (news)

Maynilad to hold IPO this year

Jekki Pascual

ABS-CBN News

MANILA — Water concessionaire Maynilad is set to go public possibly in the second or third quarter this year.Maynilad President and CEO Ramoncito Fernandez said they are still finalizing with their plans for an initial public offering (IPO) which they hope to do this year.Though 2027 is the deadline set by its franchise agreement, Fernandez said 2025 is the ‘sweet spot’ for an IPO so that they do not have to hasten when the deadline nears.“The franchise of Maynilad calls for it offering up to 30 percent to the Philippine Stock Exchange on or before January 2027. That said, the company is preparing so that it can be push button within this year depending on different factors- macro, economic, and geopolitical,” he said.Fernadez declined to say how much they are expecting to raise with the IPO, but said that they are now in talks with several banks like HSBC, Morgan Stanley, UBS, and BPI.Maynilad’s revenues grew 23 percent to P33.5 billon in 2024 with core net income up 40 percent to P12.8 billion. Its parent Metro Pacific Investments Corporation said MPIC is setting aside P28 billion for Maynilad this 2025.“[A] huge chunk of that [capex] is on pipe replacement and treatment plants in Putatan also to mitigate the water supply issue,” said MPIC Chief Finance Officer Chaye Cabal-Revilla.Maynilad is the water concessionaire serving parts of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, among many others.

Maynilad is set to go public possibly in the second or third quarter this year.