Maynilad Water Services Inc. announces that it has commenced the offer period for its initial public offering following receipt of the permit to sell from the Securities and Exchange Commission. The offer period will run from October 23 to October 29.

On October 20, the price of each share to be offered and sold through the IPO was determined at ₱15. Maynilad is expected to list its shares on the Philippine Stock Exchange, Inc.’s Main Board on November 7.

BPI Capital Corp. is the domestic lead underwriter for the IPO, while The Hongkong and Shanghai Banking Corp. Limited, Morgan Stanley Asia (Singapore) Pte., and UBS AG, Singapore branch act as international underwriters.

The International Finance Corp. and Asian Development Bank are lead cornerstone investors of the IPO.

Maynilad’s IPO relates to the offer and sale to the public of 1,660,317,400 common shares and to First Pacific Company Limited of 24,904,800 primary common shares, with an overallotment option of up to 249,047,600 primary common shares and subject to the exercise of an upsize option of up to 354,704,200 secondary common shares to be offered by our shareholder, Maynilad Water Holding Company, Inc.