Manila Water ups Vietnam stake

Manila Water Company Inc. said its Singapore subsidiary completed additional investments in Saigon Water Infrastructure Corp. of Vietnam.

Manila Water said in a disclosure to the stock exchange Manila Water South Asia Holdings Pte. Ltd. completed its subscription to additional 6.146 million primary shares of Saigon Water at a price of 16,900 Vietnamese dong per share.

Manila Water said the total amount of the subscription amounted to 103.867 billion Vietnamese dong.

“As a result of this additional subscription, MWSAH now holds 38 percent of the outstanding capital stock of SII,” said Manila Water.

“The transaction is in line with the investment strategy of Manila Water in Vietnam and Asia,” the company said.