Philippine Water Company Plans 2025 IPO After Blue Bond Sale (1)

Maynilad Water Services Inc. is planning a maiden share sale as early as next year, its CEO said, after the company this month raised 15 billion pesos ($257 million) from a public offer of blue bonds.

“This bond issuance lays the groundwork for our future IPO,” Maynilad President and CEO Ramoncito Fernandez said during the listing of the bonds. The water provider to half of the Philippine capital region plans to spend up to 30 billion pesos for projects this year and 40 billion pesos in 2025, he said.

Maynilad sold blue bonds due in 2029 and 2034 with interests ...