MANILA - 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 on Friday.
"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. 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.
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