MANILA - Double Dragon Properties Corp said Monday it has set the final offer price for its P14.7 billion real estate investment trust IPO at P2.25 per piece, the top end of the range, due to strong demand.
"The price is set at the top end of the range due to strong demand during the bookbuild process," Double Dragon's DDMP REIT Inc said.
DDMP REIT Inc is a unit of Double Dragon Properties Corp.
Projected dividend yield as stated in the REIT plan is 5.07 percent for 2021 and 5.45 percent for 2022, it said.
The firm's properties include a corner lot located along Macapagal Avenue, EDSA Extension and Roxas Boulevard where 6 completed buildings are located, Double Dragon chairman Edgar "Injap" Sia II said.
Real estate investment funds give the public more options to engage in property investments.
DoubleDragon's DDMP and Ayala Land's AREIT are the first to list in the Philippine Stock Exchange.