Philippines’ DoubleDragon REIT IPO Gets Regulator Nod (ABSCBN News)

February 18, 2021 – The Securities and Exchange Commission on Wednesday said it approved the initial public offering (IPO) of the real estate investment trust (REIT) by DoubleDragon Properties Corp worth nearly P14.71 billion.

In a Feb. 16 decision, the SEC approved the registration statement of DDMP REIT Inc for 17,827,465,406 common shares for listing on the Philippine Stock Exchange, it said in a statement.

“The Securities and Exchange Commission (SEC) has considered favorably the nearly P14.71 billion initial public offering (IPO) of a real estate investment trust (REIT) largely sponsored by DoubleDragon Properties Corp,” it said.
 
DoubleDragon set the maximum offer price at P2.25 apiece, the statement said. The SEC said the company planned to conduct the IPO from March 5 to 11 and debut at the stock exchange on March 19. 

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