Connect with us

Hi, what are you looking for?

Economy

DoubleDragon files REIT application with SEC

DDMP REIT, Inc. has submitted an application to the Securities and Exchange Commission (SEC) for a real estate investment trust (REIT) offer.

The firm, formerly known as DD Meridian Park Development Corp., on Monday submitted to the SEC its REIT plan to sell to the public 5,942,488,469 common shares at P2.25 apiece, with an over-allotment option of up to 594,248,847.

The shares include existing common shares offered by DoubleDragon Properties Corp., Benedicto V. Yujuico and Teresita M. Yujuico.

The company will not receive proceeds, but total proceeds to be raised in the sale of offer shares will be around P14.7 million. Selling shareholders will receive a net of P14.2 million, with the full exercise of the over-allotment option.

The offer shares will represent around 36.67% of the issued and outstanding capital stock of the company after the offer is completed, assuming that the over-allotment option is fully used.

Shares amounting to 17,827,465,406 will be outstanding after the firm offer.

The company’s property portfolio includes three commercial properties with six office towers that have retail businesses – DoubleDragon Plaza, DoubleDragon Center East, and Double Dragon Center West. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Loxon Philippines, Inc. (LPI), one of the country’s leading specialty engineering contractors of fully integrated building management systems for the protection of life and...

Economy

MORE than half of students in the Philippines consider temporarily dropping out of school until the coronavirus pandemic ends mainly due to difficulties in...

Economy

The Public Works department has ramped up the completion of projects such as the Sta. Monica-Lawton Bridge also known as the Kalayaan Bridge. —...

Economy

THE BUREAU of the Treasury (BTr) raised its planned borrowings from the local market to P235 billion in July, as it seeks to offer...

Economy

By Jenina P. Ibañez, Reporter MANILA is the 78th most expensive city for expatriates to live in according to Mercer’s 2021 Cost of Living...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!