Maynilad Water Services Inc said it has filed a preliminary prospectus with the Philippine Securities and Exchange Commission and the Philippine Stock Exchange for a planned initial public offering, moving the utility closer to a market debut after an earlier delay.
The document, posted for public access on the company’s website, outlines Maynilad’s business, operations and financial information as required by regulators.
The company said the filing paves the way for a roadshow to institutional investors in the coming days, but the offer remains subject to the SEC’s pre-effective letter and a PSE notice of approval.
Offer terms, including the size and timetable of the IPO, were not disclosed. The company initially targeted a July debut but later postponed the listing.
Maynilad provides water distribution and wastewater services in the west zone of Metro Manila and nearby provinces under a long-term concession with the government. The utility has cited continued investments in supply, network upgrades and wastewater facilities as priorities.
The company said the submission marks another step in opening the business to broader public participation while it continues to meet regulatory requirements. It did not provide guidance on potential proceeds or use of funds.
If cleared, Maynilad would join a pipeline of infrastructure and utilities seeking equity financing in Manila’s market, which has seen intermittent issuance amid higher rates and cautious risk appetite.
Bank arrangers and final pricing details are expected to be announced following regulatory review and investor marketing.
Business News Asia
