Monzon hopes Maynilad IPO spurs market interest

Philippine Stock Exchange Inc. (PSE) president and chief executive officer Ramon Monzon is hoping that Maynilad Water Services Inc.’s upcoming initial public offering (IPO) will spur interest and encourage more companies go public.

- By RICHMOND MERCURIO

Monzon expects Maynilad’s maiden issuance later this month to be the final IPO for the country this year.

Maynilad targets to list on the main board of the PSE on Nov. 7 and trade its shares using the stock symbol, MYNLD.

“Maynilad is definitely a welcome addition to PSE’s roster of listed companies, especially as it is known to serve the largest population in a single water concession area,” Monzon said.

Monzon said the prospect of Maynilad’s P45.77-billion IPO, which is one of the biggest maiden offerings in PSE history, has also been bolstered by the numerous cornerstone investors that have agreed to support the capital raising activity.