Investors who participated in the Initial Public Offering (IPO) of Double Dragon Properties enjoyed a 50% paper gain in just one day, after the stock closed at P3.00 during its first trading day in the Philippine Stock Exchange.
Double Dragon (DD) IPO: 14 times oversubscribed
According to the Chairman and CEO of Double Dragon Properties, the first company to conduct an Initial Public Offering (IPO) this year, the company’s IPO offer was 14 times oversubscribed, a sign that there may be healthy demand for the stock.
Double Dragon IPO could be first IPO in 2014
A property development firm jointly owned by Jollibee Foods Corp.’s CEO Tony Tan Caktiong and Mang Inasal’s owner Edgar Injap Sia could be the first initial public offering (IPO) in the Philippine Stock Exchange (PSE) this year.
The company, DoubleDragon Properties Corp., filed an IPO application with the Securities and Exchange Commission on January 31, hoping to raise more than P1.16 billion from the transaction.