News

Prime’s Trident Water sets tender offer for Manila Water shares

27 April 2021

Manila, Philippines – Trident Water Company Holdings Inc. (Trident Water), a subsidiary company under Prime Infrastructure Holdings, Inc. (Prime Infra), has made a tender offer for publicly-owned shares of Manila Water Company, Inc. (Manila Water).

Trident is prepared to acquire up to 1,118,253,916 common shares of the East Zone concessionaire at P13.00 a piece. The mandatory tender offer will run from April 27 to May 25, 2021.

Trident Water purchased 820 million common shares in 2020, and 2.69 million preferred shares from Ayala Corporation’s PhilWater Holdings Co. Inc. in February this year, reflecting a total 51-percent voting stake and 33.16-percent economic stake in Manila Water.

Manila Water provides water and waste water services to more than six million people in the East Zone, which spans 23 cities and municipalities in Metro Manila and the province of Rizal.

Prime Infra is the core infrastructure arm of businessman Enrique K. Razon Jr. It is involved in activities and businesses in the construction, water and power industries.

To view the tender notice click here

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