DoubleDragon receives Reit’s IPO approval

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DOUBLEDRAGON Properties Corp. received Monday, March 1, 2021 the notice of approval from the Philippine Stock Exchange (PSE) covering the listing application of DDMP REIT INC.’S primary offer of up to 5,942,488,469 common shares with an overallotment option of up to 594,248,847 common shares at an indicative offer price of up to P2.25 per share.

In accordance with its REIT plan, DDMP REIT’s pricing date is scheduled on March 5 with offer period from March 10 to 16 while its listing date and commencement of trading in the PSE is on March 23.

DoubleDragon chairman Edgar Sia II said the DDMP basket is “seen to be a compelling REIT offering since it will include the land, a premier corner lot located along the main thoroughfares of Macapagal Avenue, Edsa Extension and Roxas Boulevard, where the first six completed buildings sit on.” (PR)