DDMP Reit sets IPO price at P2.25

The Securities and Exchange Commission has approved the registration of DoubleDragon Properties Corp. ‘s DDMP REIT covering 17.8 billion common shares for listing under the Main Board of the Philippine Stock Exchange.

Of the 17.8 billion common shares, 5.9 billion common shares currently owned by DoubleDragon will be offered to the public. 594.25 million shares have also been set aside for over-allotment.

The offer price of each share is pegged at P2.25, or a total of P14.7 billion.

DoubleDragon plans to proceed with the share sale on March 5 to 11, while the listing is scheduled on March 19.