Maynilad Prices Biggest Philippine IPO Since 2021 at Top End (1)

Maynilad Water Services Inc. priced its initial public offering at the top of the marketed range, putting the Philippine utility firm on course for the country’s biggest listing in four years.

The shares will be sold at 15 pesos apiece, the Philippine Stock Exchange said in a notice to investors on Tuesday. The company had been marketing the shares at as low as 14 pesos.

The water- and wastewater-services provider is selling 1.66 billion shares for 24.9 billion pesos ($428 million), according to the terms. Proceeds would rise to above 34 billion pesos if including a preferential offer, and options ...