DoubleDragon REIT IPO



Exciting times ahead as DoubleDragon's initial public offering (IPO) of 14.7 billion shares of its real estate investment trust (REIT) [DDMP REIT] gets nearer and nearer. Reservation dates for the IPO are from February 4-11, 2021 and a share costs 2.25p each. Gross dividend rate is 5% per annum to be issued quarterly.

DDMP REIT will initially cover the seven buildings of DD Meridian Park in Pasay City and the proceeds of the IPO will be invested back in the Philippines. Majority of the IPO proceeds will be used to increase DoubleDragon's leasable industrial warehouse space and footprint nationwide. (source)

Two other REIT IPOs are scheduled within the year, with Robinson's Land and Vista Land and Landscapes also planning to throw their hat into the REIT ring. (source)

In this year of rebuilding and trying to get the economy back on track, all of these business expansions is just what the Philippines needs to recover lost ground due to the pandemic.

That being said though, I'll most probably be sitting out this IPO since I have zero budget for it. So makikichismis na lang ako and will be observing how DDMP REIT's IPO and post-IPO will fare, to see if it will suffer the same fate of AREIT which languished below its IPO price of 27p/share for a few months.

Please pass the popcorn!

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