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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.
February 18, 2021 | 12:31 am Font Size
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The DDMP real estate investment trust includes the first six completed buildings in DD Meridian Park, located at the Bay Area, Pasay City. COMPANY HANDOUT
DOUBLEDRAGON PROPERTIES Corp. has secured the corporate regulator’s approval to bring public its real estate investment trust (REIT) that aims to raise nearly P15 billion.
In a statement, the Securities and Exchange Commission (SEC) said the Commission en banc “considered favorably” the P14.71-billion initial public offering (IPO) of DDMP REIT, Inc. The shares will be listed on the main board of the Philippine Stock Exchange (PSE), pending compliance with the bourse’s requirements.