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DoubleDragon REIT IPO gets OK from PSE, set for market debut on Mar. 23

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/02/26/20180929-double-dragon-aseana-gcs-3.jpg"/><figcaption>The EDSA-side of DoubleDragon&#x27;s DD Meridian Park, now under DDMP REIT Inc. which is set to debut at the Philippine Stock Exchange on March 23, 2021. <em>ABS-CBN News/File</em></figcaption></figure></div><p><br/>MANILA - DoubleDragon&#x27;s DDMP REIT Inc. is all set for stock market debut on March 23, as the Philippine Stock Exchange approved its planned initial public offering (IPO) on Friday. </p><p>PSE said DDMPR is set to offer up to 5.94 billion secondary common shares -- with an oversubscription option of 594.25 million shares -- from March 10 to 16, at a price of up to P2.25 per share.</p><p>The final offer price will be announced on March 5.</p><p>DDMPR is the second real estate investment trust (REIT) to list at the PSE -- the first being Ayala Land&#x27;s AREIT Inc.</p><p>&quot;We are optimistic that more property companies will list REITs in the Exchange this year given the benefits to the REIT company, its investors and to the country’s economy because of the reinvestment in the Philippines rule for the REIT’s sponsor,” PSE President and CEO Ramon Monzon said.</p><p>As with all IPOs, PSE said 10 percent of the offer shares will be set aside for Local Small Investors.</p><p>After the share sale, new investors will have a 36.67 percent hold in DDMPR out of the total 17,827,465,406 common shares to be listed at the PSE. </p><p>DoubleDragon will retain 44.33 percent, while Benedict V. Yujuico and Teresita M. Yujuico will have 9.65 percent and 9.35 percent, respectively.</p><p>Credit Suisse Ltd, DBS Bank Ltd, Nomura Singapore Ltd and PNB Capital and Investment Corp will act as joint global coordinators for the offering.<br/> <br/>Credit Suisse, DBS, Nomura, CIMB, Macquarie, and Maybank are the bookrunners while PNB Capital, ICCP, and RCBC Capital are domestic underwriters.</p><p>DDMPR&#x27;s portfolio includes 6 office towers within the DD Meridian Park.</p><p>REITs give the public more options to engage in property investments.<br/> </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/17/21/doubledragon-p1471-billion-real-estate-investment-trust-reits-ipo-sec-ddmp-initial-public-offer-pse-stock-exchange">DoubleDragon&#x27;s P14.71 billion real estate investment trust IPO gets regulator nod</a></li>	<li><a href="https://news.abs-cbn.com/business/11/16/20/doubledragon-to-list-p147-billion-reit-posts-p5-billion-jan-sept-net-income">DoubleDragon to list P14.7-billion REIT, posts P5-billion Jan-Sept net income</a></li>	<li><a href="https://news.abs-cbn.com/business/07/10/20/doubledragon-says-first-tranche-of-reits-assets-identified">DoubleDragon says first tranche of REITs assets identified</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/K87NEaE5eKk?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><div> </div>

<p>DoubleDragon's DDMP REIT Inc. is all set for stock market debut on March 23, as the Philippine Stock Exchange approved its planned initial public offering (IPO) on Friday. </p>

DoubleDragon's DDMP REIT Inc. is all set for stock market debut on March 23, as the Philippine Stock Exchange approved its planned initial public offering (IPO) on Friday.