The International Finance Corporation (IFC) has invested $100 million as a cornerstone investor in the initial public offering of Maynilad Water Services, Inc., the operator of the largest water concession in the Philippines and Southeast Asia in terms of active connections and population served, IFC stated. The investment aims to improve access to water and wastewater services in the West Zone of Metro Manila and increase access to capital markets for water and wastewater utilities.
Proceeds from the IPO will be used to fund Maynilad’s capital expenditures requirement and for general corporate purposes. A portion of proceeds will be directed toward expanding wastewater service coverage, which is expected to reach 100 percent by the end of 2026. Maynilad’s wastewater service coverage expansion is expected to improve public health and sanitation and provide potable water supply to people in the West Zone of Metro Manila, helping to reduce waterborne diseases and improve the overall well-being of the communities Maynilad serves.
“This marks the beginning of a new chapter for Maynilad,” said Ramoncito S. Fernandez, President and CEO of Maynilad. “Apart from fulfilling one of the terms of our legislative franchise, this IPO enables us to pursue our long-term expansion plans for our water and wastewater businesses. The investments we have received signal confidence in our vision and plans to strengthen our positioning as a pure-play sustainability company.”
Access to capital markets, especially equity, can help water utilities in emerging markets obtain the funding to expand services, improve efficiency, and reduce reliance on public finances.
In addition to the financing, Maynilad will join IFC’s Utilities for Climate network, providing the company with access to global best practices and peer learning to speed up innovation in climate-smart water service delivery. IFC will support Maynilad as it aims to strengthen its environmental and social practices through capacity building aligned with IFC’s Performance Standards and as it looks to improve stakeholder engagement. IFC will also work with Maynilad on a framework to promote greater participation of women in its workforce and position itself as an employer of choice for women.
“IFC is pleased to join Maynilad’s IPO as a cornerstone investor, supporting the company’s goal of reaching full wastewater service coverage in the years ahead,” said Amena Arif, Country Manager for the Philippines at IFC. “This investment reflects our focus on improving services for the Filipino population, while also highlighting IFC’s ongoing efforts to bolster capital market activity in the country.”
The Philippine Securities and Exchange Commission rendered Maynilad’s Registration Statement for its initial public offering effective on October 22, 2025.
