Fast-growing property developer DoubleDragon Properties Corp. obtained on Wednesday approval from shareholders to raise as much as P7.5 billion in fresh capital through a re-initial public offering (IPO).
This is part of its goal to join the Philippine Stock Exchange index roster in two years.
Unlike the P1.16-billion IPO conducted in April 2014 – which was entirely taken up by domestic retail investors because the company was much smaller then – the new follow-on offering aims not just to raise fresh capital but attract foreign institutional investors, DoubleDragon…