MVP, Consunji optimistic on Maynilad’s IPO outcome

Tycoons Manuel V. Pangilinan and Isidro Consunji are optimistic that Maynilad Water Services Inc.’s upcoming initial public offering (IPO) will turn out a success, with the capital raising activity receiving strong support from numerous cornerstone investors.

- Richmond Mercurio

“The Maynilad IPO is already on track and running along. I think their target listing is Nov. 7. It will probably push through. UBS came to see me, it’s going pretty well so far,” Pangilinan, chairman of Maynilad, said.

Pangilinan said he is satisfied with the current roster of cornerstone investors joining the IPO.

“I don’t have the exact number (of shares they will get). But they should get anywhere between $500 million and $600 million, I think,” he said.

“Hopefully (at P15 per share). That’s what we’re aiming for.”

The offer period for Maynilad’s IPO is scheduled from Oct. 23 to 29, with a target listing date of Nov. 7.

“No one is telling me that it won't proceed,” Consunji, chairman of DMCI Holdings Inc., said separately.

“Next month, Maynilad is possibly one of the biggest in the country so far,” he said.