Nelson Morales

Article (news)

MAYNILAD, MPTC LOGOS

Jekki Pascual

ABS-CBN News

MANILA — Two units of Metro Pacific Investments Corporation (MPIC) are on track for their expected listing at the Philippine Stock Exchange. Water utility firm Maynilad may go public this year, and Metro Pacific Tollways Corporation (MPTC) next year.At an MPIC media briefing, Maynilad President and CEO Ramoncito Fernandez said that after postponing its initial July listing, the new October schedule may happen.“We are committed to pushing for an on or before the end-of-October timeline. We have previously postponed our IPO to accommodate two major cornerstone investors,” Fernandez said.He did not disclose the investors they are waiting for, but said that at least one has already approved its participation in the offering. Fernandez is optimistic that waiting for these investors will bring in more value to the company.“We cannot yet disclose the size, but it is substantial enough to make our IPO successful as we want it. The target is to raise $500-600 million, and this is a combination of both local and international investors,” he said.Under its legislative franchise contract, Maynilad is required to offer at least 30% of its outstanding capital stock to the public by January 2027.Meanwhile, MPTC will also gear up for listing after it cuts debt and expands more toll roads. MPTC President and CEO Jose Ma. Lim said they are also on track.“We have prioritized the debt servicing arrangements for the maturities that are going to be expected this next 12 months,” Lim said.They are also completing many of their toll road projects to make the listing more viable to investors. They aim to get at least P30 billion from the IPO.“We’re trying to complete the remaining sections of our roads in the south, especially CALAX and CCLink, because those would greatly improve the prospects for listing,” Lim added.MPIC Chief Finance Officer Chaye Cabal-Revilla also added that the group is supporting MPTC expansion plans to help the country’s transport sector. MPTC operates the North Luzon Expressway, Subic-Clark-Tarlac Expressway, among others.“We have roughly 53.6 kilometers of toll roads under construction. And we are looking to complete the remaining sections of CAVITEX within the year and those of CALAX by next year,” she said.

Two units of Metro Pacific Investments Corporation are on track for their expected listings.

Two units of Metro Pacific Investments Corporation are on track for their expected listings.

Maynilad IPO this year, MPTC next?

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Maynilad IPO this year, MPTC next?

Jekki Pascual,

ABS-CBN News

Published August 06, 2025 06:53 PM PHT

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