On February 24, 2021, the Exchange approved the application of DDMP REIT, Inc. (the “Company” or “DDMPR”) for the initial listing of 17,827,465,406 common shares, with a par value of Php 1.00 per share, under the Main Board of the Exchange, which includes the shares subject of the Company’s Initial Public Offering (“IPO” or “Offer”).
The IPO of the Company, with an Offer Price of up to Php 2.25 per share, consists of the following:
1. Secondary Offering of up to 5,942,488,469 existing common shares to be offered by DoubleDragon Properties Corp. (“DD”), Benedicto V. Yujuico and Teresita M. Yujuico (“Spouses Yujuico”, collectively with DD, “the Selling Shareholders” or the “Sponsors”); and
2. Over-allotment Option of up to 594,248,847 common shares and will be sold as part of the Institutional Offer.
Attached is a copy of the Preliminary Offer Terms Sheet.
The Company’s Estimated Public Float (Post-IPO), assuming the Over-allotment Option is fully exercised will be 36.67%. The indicated post-IPO public float of 33.33% is on the assumption that the Over-Allotment Option is not fully exercises. On the other hand, the Total Shares Under Escrow indicated above are based on the assumption that the Over-Allotment Option Shares are likewise fully subscribed.
The Allocation per TP stated above is based on the list of REIT-Eligible PSE Trading Participants as of December 14, 2020. Please refer to CN-No. 2020-0101 dated December 14, 2020. Please note, however, that in Memorandum CN-No. 2020-0105 dated December 28, 2020, the Exchange announced that it has approved the application for voluntary suspension of King’s Power Securities, Inc. effective beginning January 1, 2021 until December 31, 2021. The number of active REIT-Eligible TPs and the consequent allocation per REIT-Eligible TP will be announced accordingly.
The Exchange’s approval of the conduct of the IPO and listing of the Company’s shares is subject to its compliance with all of the post-approval conditions and requirements of the Exchange.
The Exchange will advise the investing public of further developments on the IPO of the Company.
For your information and guidance. |