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DOUBLE DRAGON IPO SET AT TOP PRICE
- By The Financial District
- Mar 9, 2021
- 1 min read
Citing strong demand during its bookbuilding, DoubleDragon has set its IPO for Real Estate Investment Trust at the high end of its indicative offer at P2.25 per share.
The company cited strong demand during the bookbuild process. For its IPO price, which it said has a Projected Dividend Yield under its REIT Plan at 5.07% for FY2021 and 5.45 for FY2022.
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," Sia added.
