Milbank LLP's work on Maynilad Water Services, Inc.'s initial public offering (IPO) has been named the 2025 ESG Deal of the Year at the IFR Asia Awards. International Financing Review (IFR) is a leading source of fixed income, capital markets and investment banking news, analysis and commentary.
Milbank advised the joint global coordinators and joint bookrunners in connection with the IPO. Valued at approximately US$607 million (PhP35.3 billion), it is the largest IPO in the Philippines this year, the second-largest IPO ever in the country and the first company to secure a Philippine Green Equity label.
"We are honored to have this landmark transaction recognized by IFR," said Milbank Global Corporate Finance and Securities partner and Hong Kong office head James Grandolfo. "The success of this transaction speaks to the quality of Maynilad's business and their high level of professionalism and determination. We are grateful to have been involved in this milestone transaction."
