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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.
Filinvest Land Inc. is planning to convert its wholly-owned subsidiary, Cyberzone Properties Inc. (CPI), into a Real Estate Investment Trust (REIT) Company.
In a disclosure to the Philippine Stock Exchange, FLI said the move has been approved by its Board of Directors.
“CPI is intended to be listed on the PSE in compliance with the minimum public ownership requirements under Philippine securities regulations and the Real Estate Investment Trust Act of 2009 and its implementing rules and regulations and under such terms and conditions as FLI’s Board of Directors may subsequently approve,” said FLI.
Filinvest is one of the pioneer providers of office space to the business process outsourcing (BPO) industry in the Philippines and currently has 43 operating and under construction office buildings covering over 824,000 sqm of gross leasable area.
January 15, 2021 | 9:30 am Advertisement
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In its storied 53-year history, the Financial Executives Institute of the Philippines (FINEX) has had a number of lawyers serving as President of the country’s foremost finance organization. But never before has it elected a legal eagle with a stock market background until Francisco ED. Lim was chosen by his peers to lead FINEX in 2021.
Francis was the President and CEO of the Philippine Stock Exchange (PSE) from 2004 to 2010. During his stint at the PSE, he joined FINEX and held key positions in various institutions such as the PSE Foundation, the Securities Clearing Corporation of the Philippines, the Capital Market Development Council, the Philippine Dealing and Exchange Corporation, and the Securities Investors Protection Fund.