Philippines’ Maynilad Explores $300 Million Pre-IPO Round, Sources Say

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Maynilad Water Services Inc. is considering raising about $300 million in a funding round before a potential initial public offering that could take place as soon as 2025, according to people with knowledge of the matter.

Bloomberg News

Elffie Chew and Pei Li

Published Feb 02, 2024 • 2 minute read

Commercial and residential buildings in Manila, the Philippines, on Friday, Dec. 16, 2022. The Philippine central bank isn’t likely to pause interest-rate increases at least in the next two meetings as inflation remains far above target, Governor Felipe Medalla said. Photographer: SeongJoon Cho/Bloomberg Photo by SeongJoon Cho /Bloomberg

(Bloomberg) — Maynilad Water Services Inc. is considering raising about $300 million in a funding round before a potential initial public offering that could take place as soon as 2025, according to people with knowledge of the matter.

HSBC Holdings Plc has been picked to assist with the pre-IPO round to sell less than 10% of the company’s equity, the people said. HSBC has also been tapped with Morgan Stanley for the possible first-time share sale in Manila, said the people, asking not to be identified as the process is private.

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Bloomberg News

2024-02-02 02:10:17

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