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Cornerstone investments from ADB and IFC indicate strong investor confidence, similar to successful IPOs in stable markets.
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ADB and IFC may invest $600 million in Maynilad. They could acquire nearly 40% of Maynilad's shares. Maynilad plans to list on the Philippine Stock Exchange by November. Previous IPO activity in the Philippines has been low. Successful IPO could be the largest in recent Philippine history.
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