Timetable Updated to Accommodate Potential Cornerstone Investors
NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
West Zone concessionaire Maynilad Water Services, Inc. (“Maynilad” or the “Company”) has updated its proposed initial public offering (IPO) timetable in response to robust potential demand from strategic cornerstone investors. These investors have conveyed strong and sustained interest in participating in the offering, but requested additional time to complete their internal approval processes.
To give way to their inclusion, Maynilad has submitted an updated timetable to the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). The potential participation of these investors is expected to add even more value to Maynilad’s public offering and will be viewed positively by all investors and the markets at large.
Maynilad continues to coordinate with regulators and is proceeding with all necessary requirements for the proposed IPO. Based on the updated timetable filed with the SEC and PSE, the target listing date on the Main Board of the PSE will be no later than end of October 2025, under the trading symbol “MYNLD”.
The proposed IPO remains subject to the issuance of the SEC Order of Registration and Certificate of Permit to Offer Securities for Sale, as well as full compliance with regulatory conditions.
BPI Capital Corporation serves as the Domestic Lead Underwriter, while The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore Branch act as the International Underwriters (collectively, the “Joint Global Coordinators and Joint Bookrunners”).
Maynilad also recently secured approval for a 10-year extension of its Revised Concession Agreement. On June 18, 2025, the Economy and Development Council (EDC) approved the request of the Metropolitan Waterworks and Sewerage System (MWSS) to extend the concession to January 21, 2047. Maynilad views this extension as an affirmation of the Company’s fundamentals and long-term prospects and supports the Company’s move for an IPO.
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Maynilad IPO Prospectus
Copies of the updated draft Preliminary Prospectus dated May 14, 2025 may be accessed at https://www.mayniladwater.com.ph/prospectus. The draft Preliminary Prospectus contains the information required to be stated in any notice, circular, advertisement, letter, or other communication under Rule 8.3.1 of the 2015 Implementing Rules and Regulations of the Securities Regulation Code of the Philippines and which information is incorporated by reference in this communication.
About Maynilad
Maynilad is a pure-play and integrated primary provider of sustainable water and wastewater services for the “West Zone”, which spans across 11 cities in Metro Manila, three of which it partially covers, as well as three cities and three municipalities in the Cavite Province in the Philippines. Maynilad’s business address is at the Maynilad Building, MWSS Complex, Katipunan Avenue, Pansol, 1119 Quezon City Philippines. Maynilad’s telephone number is (+632) 8 920 5485, and its corporate website is https://www.mayniladwater.com.ph.
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This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction where it is unlawful to do so. The securities to which this announcement relates may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither the Company nor any seller of the securities intends to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. No money, securities or other consideration is being solicited by this communication or the information contained herein and, if sent in response to this communication or the information contained herein, will not be accepted.
