DoubleDragon REIT Debuts on the Philippine Stock Exchange (Inquirer)
March 26, 2021 – Property developer DoubleDragon Meridian Park Properties’ real estate investment trust (DDMP REIT) raised the curtain on local initial public offerings (IPO) on Wednesday after completing the sale of P14.7 billion (US$300 million) worth of shares.
About 50,740 investor accounts participated in the IPO, a record high in the local stock market. Of these, around 15,000 are local small investors who bought using the Philippine Stock Exchange (PSE) Electronic Allocation System platform.
Due to the high volume, DDMPR’s listing on the local bourse was delayed by one day.
“Listing during a pandemic is definitely not a walk in the park, but we believe this is our share of also promoting a more inclusive economy, and that what we can achieve together now during these challenging, never-been-charted territories, brought about by this pandemic, despite those challenges, your DDMPR team will still continue to work hard to lift the company to greater heights while further solidifying its foundation year on year,” DoubleDragon chair Edgar Sia II said during DDMPR’s listing ceremony on Wednesday.
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