SEC OKs DoubleDragon REIT offering gmanetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gmanetwork.com Daily Mail and Mail on Sunday newspapers.
Published February 18, 2021, 6:00 AM
The Securities and Exchange Commission (SEC) has approved the P14.71 billion initial public offering (IPO) of DoubleDragon Properties Corporation’s real estate investment trust (REIT).
The SEC En Banc resolved to render effective the registration statement of DDMP REIT, Inc. for 17.83 billion common shares for listing on the Main Board of the Philippine Stock Exchange (PSE), subject to the company’s compliance with the remaining requirements.
Of the total issued and outstanding shares, DDMP will offer to the public up to 5.94 billion common shares currently owned by DoubleDragon, Benedict V. Yujuico and Teresita M. Yujuico.
The selling shareholders have also set aside 594.25 million more shares as an overallotment option.
Banks, Property Stocks Could Be Losers in Singapore’s Budget
Bloomberg 2/15/2021 Ishika Mookerjee and Abhishek Vishnoi
(Bloomberg) Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largesse.
Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, Tuesday’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.
That’s bad news for the benchmark Straits Times Index, which has risen 3.5% so far this year. The gauge is lagging the broader MSCI Asia Pacific Index by six percentage points even though Singapore has managed to contain the spread of the virus.
Investors start to see light at end of Covid tunnel
published : 6 Feb 2021 at 04:00
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Recap: Global shares continued their march towards record highs yesterday as progress in vaccine rollouts and the prospect of a large US stimulus are expected to lead a faster global economic recovery.
The SET index moved in a range of 1,456.45 and 1,500.17 points this week before closing yesterday at 1,496.61, up 2.02% from the previous week, in daily turnover averaging 78.31 billion baht.
Institutional investors were net buyers of 4.49 billion baht. Retail investors bought 3.98 billion and brokers purchased 525.14 million baht. Foreign investors were net sellers of 8.99 billion baht worth of shares.
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NEW DELHI: Maybank Kim Eng Securities, which is a subsidiary of Malaysian Maybank, sees the fair value of Tata Motors shares at half its price today as it believes concerns over Jaguar Land Rover still persist.
In a post-earnings note released on Thursday, Jigar Shah and Vikram Ramalingam, analysts at the brokerage, said stock is overvalued considering multiple headwinds.
“The concern on its high debt levels remains and the need to incur elevated capex due to a shift to electric vehicles in the EU by 2030 will pressure its cash flows. Tata Motor’s EV/Ebitda of 6x FY22E is at a premium to European peers and versus its long term EV/Ebitda of 4x is unjustified,” the duo said.