Public stockholders appear to be the owners of 55.879 percent — 1,513,808,484 — of the 2,064,839,617 outstanding common shares in Manila Water Co. (MWC). This collectively makes them the water company’s majority stockholder. The firm’s parent, Ayala Corp., directly and indirectly holds only 866,946,196 common shares.
But in its 2020 general information sheet (GIS), MWC listed 6,064,839,617 outstanding shares out of its 7.1-billion authorized capital stock (ACS). This consisted of 3.1 billion common shares with a par value of P1 a share and 4 billion voting preferred shares with a par value of P0.10 a share.
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