Double Dragon Properties Corp. receives today the Notice of Approval from the Philippine Stock Exchange covering the listing application of DDMP REIT INC’s Primary Offer of up to 5,942,488,469 Common Shares with an Over-allotment Option of up to 594,248,847 Common Shares at an indicative Offer Price of up to ₱2.25 per share.
In accordance to its REIT Plan, DDMP REIT’s timetable of the Offer is expected to be as follows:
Pricing Date March 5, 2021
Offer Period March 10 to 16, 2021
Listing Date and March 23, 2021
Commencement ofTrading in the PSE
“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 6 completed buildings sit on. This feature is expected to be a game changer since the value of the prime double corner 4.75 hectare block of land with titled land ownership to be held in perpetuity should keep on appreciating decade after decade, a very important inclusion for both domestic and foreign investors,” as previously said by DoubleDragon Chairman Edgar “Injap” Sia II.
“When there is underlying titled land ownership included in the REIT shares, even a hundred years from now it should keep its hard value intact. We see DDMP shares as a ‘Pamana Stock’ that even our future grandchildren will be happy to inherit,” as previously added by Mr. Sia.
