DoubleDragon Properties Corp. has filed a registration statement with the Securities and Exchange Commission (SEC) covering the Real Estate Investment Trust Initial Public Offering (REIT IPO) of DDMP REIT Inc., previously DD-Meridian Park Development Corp.
In a stock exchange disclosure Monday, the company said it has mandated Credit Suisse, DBS, Nomura and PNB Capital to act as Joint Global Coordinators and Joint Bookrunners together with RCBC Capital, ICCP, Macquarie, Maybank Kim Eng and CIMB for the REIT IPO.
Offer price
Subject to receipt of regulatory approvals, execution of definitive agreements and market conditions, the REIT IPO would indicatively consist of a firm offer of up to 5,942,488,469 common shares with an over-allotment option of up to 594,248,847 common shares at an indicative offer price of up to P2.25 per share.
Warehouse complexes
As stated in the draft Reinvesment Plan attached to the preliminary REIT Plan filed, 100 percent of the combined shareholders’ proceeds from the REIT IPO will be reinvested in the Philippines, as required by relevant regulations. Majority of the proceeds will be infused as equity into CentralHub Industrial Centers Inc. to increase its leasable industrial warehouse space and footprint nationwide.
The warehouse complexes are designed for use as warehouses, cold storage facilities, commissaries, or as logistics and distribution centers. (PR)