PH realty players DoubleDragon, Filinvest Land move ahead on REIT listing dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
Published March 5, 2021, 6:00 PM
DoubleDragon Properties Corporation has set the initial public offering price of DDMP REIT, Inc. (DDMPR), the second Real Estate Investment Trust (REIT) to debut on the bourse, at P2.25 per share.
The final IPO price of P2.25 is the maximum of its indicative offering price and translates to a maximum offer size of P14.7 billion.
The firm is offering 5.94 billion common shares with an over-allotment option of up to 594.25 million shares.
The offer period will run from March 10 to 16, 2021 and is tentatively scheduled to be listed on the main board of the PSE on March 23, 2021.
Photo credit: http://www.ddmeridianpark.com/
The second real estate investment trust in the country will be available to the public before the closing of the first quarter of the year.
DoubleDragon Properties Corp.’s DDMP REIT Inc. will debut on the local stock market on March 23, as the Philippine Stock Exchange gave a green light to its initial public offering (IPO) recently, the ABS-CBN News reported. It is the first company to launch a public offering in 2021.
The IPO will run from March 10 to 16, after the announcement of the final offer on March 5. DDMP REIT will offer up to 5.94 billion secondary common shares with an oversubscription option of 594.25 million shares. Investors can secure their share at P2.25 per piece.
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