DoubleDragon to seek regulatory nod to change name, purpose

DOUBLEDRAGON Properties Corp. will seek regulatory approval for its plan to change its corporate name to DoubleDragon Corp. and shift to becoming an investment holding company, the firm disclosed to the exchange on Thursday.

“DoubleDragon is now ready to begin its new journey as it aspires to become one of the most active, durable, and responsible Filipino conglomerates,” Edgar “Injap” J. Sia II, chairman of DoubleDragon, said.

Its board of directors has approved the changes in the company’s articles of incorporation.

DoubleDragon said it is preparing for new opportunities post-pandemic.

“We are inspired to position DoubleDragon to become a major contributor and to be in the forefront in the rebuilding of the new economy post this unprecedented global pandemic,” Mr. Sia said.

DoubleDragon Co-Chairman Tony Tan Caktiong also said the company is now “in an excellent position, where it can capitalize on its strong balance sheet to add worthwhile investments outside of the property sector that would have massive growth potential.”

Shares of DoubleDragon Properties grew by 0.61% on Thursday to close at P13.16 apiece from P13.08. — Keren Concepcion G. Valmonte