ELSEWHERE IN ASIA
- From: Vol 6, Issue 4 (April 2005)
- Category: Need to know
- Region: Asia
- Country:
- Related Companies: Benpres Holdings, Citadel Holdings, DM Consunji, Hyflux, Manila Water Company and Metro Pacific Corporation
Manila Water made an impressive debut on the Manila Stock Exchange in March, largely thanks to foreign investors who picked up 70% of the 745 million shares issued.
On their first day of trading, the shares rose 6% above their IPO price of PHP6.5 but have since slipped back to just above their pre-IPO level. Analysts rank Manila Water as a good buy based on growing organic demand and high earnings forecasts. The more optimistic observers saw this strong IPO performance as the sign of a renewed ...
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