MANILA, Philippines — Emerging opportunities in the water sector are encouraging Lucio Tan’s MacroAsia Corp. to list its growing water business separately in the Philippine Stock Exchange. Joseph Chua, MacroAsia president and COO, said the company intends to do an initial public offering of its water operations within the next three years. “Considering the opportunities that abound, we envision to grow further our water business with the mindset to eventually spin off and list this segment separately at the Philippine Stock Exchange within three years,” Chua said. Chua said MacroAsia’s expanding water operations would provide the diversification needed to boost the company’s growth outside of the aviation sector. The company is building the water treatment plant for MacroAsia’s Maragondon bulk water project in Cavite.

Source: Philippine Star July 21, 2019 16:30 UTC