Maynilad Water Services Inc has postponed the listing date of its IPO on the Philippines’ stock exchange that could net up to 37.41 billion Philippine peso ($654.86 million) to no later than the end of October from an initial schedule of July 17 to accommodate potential cornerstone investors.
In a statement late on Sunday, the Philippine water services company said that it has updated its proposed IPO timetable in response to robust potential demand from strategic cornerstone investors.
“These investors have conveyed strong and sustained interest in participating in the offering, but requested additional time to complete their internal approval processes,” it added in the statement.
Reuters
