The International Finance Corporation (IFC), the private investment arm of the World Bank, has invested $100 million as a cornerstone investor in the initial public offering (IPO) of Maynilad Water Services, Inc., the largest water utility in the Philippines and Southeast Asia by active connections and population served. Maynilad’s shares began trading on the Philippine Stock Exchange today.
Proceeds from the IPO will fund Maynilad’s capital projects and general corporate needs, including plans to expand wastewater services to 100 percent coverage by the end of 2026. The expansion is expected to improve public health, provide safe drinking water to more communities in Metro Manila’s West Zone, and reduce waterborne diseases.
“This IPO enables us to pursue our long-term expansion plans and strengthens our position as a sustainability-focused company,” said Ramoncito S. Fernandez, Maynilad president and CEO.
Access to equity markets is a key step for water utilities in emerging markets, allowing them to fund service expansion, improve efficiency, and reduce reliance on public financing.
In addition to financing, IFC will support Maynilad through its Utilities for Climate network, sharing global best practices, promoting environmental and social standards, and helping enhance workforce diversity, particularly for women.
“IFC is pleased to support Maynilad’s goal of achieving full wastewater service coverage, reflecting our commitment to improving services and bolstering capital markets in the Philippines,” said Amena Arif, IFC country manager for the Philippines.
