UK MOBILIST invests $10M in Maynilad IPO for upgrades

The UK Government’s MOBILIST programme invested $10 million (PHP 586 million) as a cornerstone investor in Maynilad Water Services’ IPO on the Philippine Stock Exchange (PSE).

• Investment details: MOBILIST invested $10 million (PHP 586 million) as a cornerstone investor in Maynilad’s IPO; the IPO proceeds will be used to upgrade and expand water infrastructure serving over 9 million residents in Metro Manila’s West Zone, including deployment of smart sensor networks to identify precise maintenance needs for improved water supply management.
• Program and partnerships: MOBILIST joins other investors including IFC and ADB; this is MOBILIST’s second Philippines investment after supporting Citicore Renewable Energy Corporation’s IPO in 2024; MOBILIST has worked with the PSE since 2023. The UK and the Philippine Government are collaborating on climate adaptation and sustainability initiatives, and participate in the EMDE Public Markets Coalition launched at UN FFD4 in Seville in July (this year) to develop a Toolkit for MDBs, DFIs, and investors to mobilise private capital into EMDE public markets. The Philippines currently tops the World Risk Index for the third consecutive year.