Maynilad Water Services Inc. has announced that it will launch its initial public offering (IPO) on October 30, following a delay intended to provide cornerstone investors additional time amidst a fluctuating stock market. Initially, under its preliminary prospectus dated August 28, the company had planned to conduct its share offering between October 16 and 22, with pricing scheduled for October 13.

The utility company aims to raise as much as P45.8 billion by offering 1.66 billion common shares, with an over-allotment option allowing for up to 249 million additional shares. The shares could be priced at a maximum of P20 each.

Additionally, the IPO includes a preferential allotment of up to 24.9 million shares designated for First Pacific Co. Ltd., a key shareholder of Maynilad.

Originally, the company intended to list its shares on the stock exchange under the ticker symbol "MYNLD" in July. However, the IPO was postponed to October to better accommodate cornerstone investors in light of a volatile market environment.

This strategic rescheduling reflects Maynilad's commitment to securing stable investment and maximizing the success of its public offering.