The Philippine Stock Exchange, Inc. has approved the initial public offering listing application of DDMP REIT, Inc. (DDMPR).
Tentatively scheduled to be listed on March 23 this year, it will be the second real estate investment trust (REIT) to debut on the stock exchange.
“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 Chief Executive Officer Ramon S. Monzon said in a statement on Friday.
The final offer price of DDMPR’s 5.94 billion secondary common shares will be disclosed after its book-building process. Its shares are said to be worth P2.25 apiece at most.
The offer period will run from March 10 to 16, 2021. — Keren Concepcion G. Valmonte