Investment and Capital Corporation of the Philippines will act as one of the domestic underwriters for Double Dragon Properties’ initial public offering (IPO) of its real estate investment (REIT) trust worth P14.71 billion.
In its Feb. 16 decision, the Securities and Exchange Commission (SEC) approved the registration statement of DDMP REIT Inc. for 17,827,465,406 common shares for listing on the Philippine Stock Exchange, it said in a statement.
"The Securities and Exchange Commission has considered favorably the nearly P14.71 billion initial public offering (IPO) of a real estate investment trust (REIT) largely sponsored by DoubleDragon Properties Corp," it said.
DoubleDragon set the maximum offer price at P2.25 apiece, the statement said. The SEC said the company planned to conduct the IPO from March 5 to 11 and debut at the stock exchange on March 19.
The company will offer up to 5,942,488,469 common shares to the public which are currently owned by DoubleDragon, Benedict V. Yujuico and Teresita M. Yujuico, the SEC said. Some 594,248,847 shares were set aside for overallotment.
New investors will hold as much as 36.67 percent of interest, DoubleDragon will retain 44.33 percent while the Yujuicos with 9.65 percent and 9.35 percent, respectively, the SEC said.
Credit Suisse Ltd, DBS Bank Ltd, Nomura Singapore Ltd and PNB Capital and Investment Corp will act as joint global coordinators for the offering, the regulator said.
Credit Suisse, DBS, Nomura, CIMB, Macquarie, and Maybank are the bookrunners while ICCP is joined by PNB Capital and RCBC Capital as domestic underwriters.
DDMP's portfolio includes 6 office towers within the DD Meridian Park.
*Note: Article is originally published in www.news.abs-cbn.com on Feb. 17, 2021.
Last February 11, 2021 the Capital Markets Development Committee of FINEX organized a webinar on one of the hottest topics in the stock market industry, the GameStop Saga. After the two-hour presentation of distinguished guests, ICCP Managing Director Manny Ocampo led the open forum of the highly engaging and informative discussion.
Full interview aired last February 4, 2021
Business World Online invited Investment & Capital Corporation of the Philippines (ICCP) Managing Director Mr. Manny Ocampo as resource person to discuss bank prospects following the "worrisome" fall in lending for the first time in 14 years.
The Investment & Capital Corporation of the Philippines represented by ICCP President Val Bagatsing shared his insights on the state of debt capital markets amid Covid -19. In his interview with ANC News last July 27, President Bagatsing said that balance sheet management is the key to economic recovery.
Watch the full interview in this link.
L-R: Rhoda C. Lao, VP, Treasurer, PDO; Antonio E. Cruz, Jr., SVP Segment Head - Chinese Banking Segment, RCBC; Rhoel Alberto B. Nolido, President & COO, PDO; Eugene S. Acevedo, President & CEO, RCBC; Guillermo D. Luchangco, Chairman& CEO, PDO; Elizabeth E. Coronel, FSVP, Group Head—Conglomerates & Global Corporate Banking, RCBC; Valentino S. Bagatsing, President & CEO, Investment & Capital Corporation of the Philippines; Bernice L. Uy-Gaspar, SVP, Division Head—Chinese Banking Segment, RCBC
Investment & Capital Corporation of the Philippines (ICCP) successfully raised a PhP500 million unsecured term loan facility with the Rizal Commercial Banking Corporation (RCBC).
The additional tranche forms part of the PhP800 million total debt financing that PDO has mandated ICCP to arrange.
This term loan facility will be used to support Pueblo de Oro’s ongoing capital expenditure program for its existing and upcoming residential and mixed-use projects nationwide.
The first tranche of funding was previously arranged by ICCP through a PhP300 million unsecured term loan with the United Coconut Planters Bank (UCPB) in December 2018.
ICCP CEO Mr. William M. Valtos, Jr.
The Investment House Association of the Philippines (IHAP) elected Mr. William M. Valtos, Jr., Chief Executive Officer of the Investment & Capital Corporation of the Philippines (ICCP) as Board Member and VP & Head-Projects during its General Membership Meeting and Election held recently at the Tower Club, Makati City. Mr. Valtos will serve a one-year term dedicated to improving
and maintaining the distinct membership of IHAP. For 2018, IHAP aims to increase its involvement in more important and relevant activities that will further promote and contribute to the Philippines’ rapid pace of economic development.
As CEO of ICCP and Group President – Financial Services for the ICCP Group, Mr. Valtos oversees the investment banking, venture capital, and asset management business units of the ICCP Group. He has over 30 years of experience in growth company financings, asset sales, and complex deal structurings across multiple jurisdictions. Mr. Valtos has been a senior executive with the ICCP Group for over 22 years. He is a member of the firm’s Deal Committee and Board of Directors.
The current and future leaders the ICCP Group (L-R) ICCP Red Peak President Eduardo F. Saguil, Science Park of the Philippines President Richard Albert I. Osmond, ICCP CEO William M. Valtos, Jr, ICCP Group Chairman Guillermo D. Luchangco, Manila Exposition, Inc. President Pamela D. Pascual, Pueblo de Oro President Prim B. Nolido
The ICCP Group celebrated 30 remarkable years of successful investment banking, venture capital and property development with a cocktail reception at the Bonifacio Ballroom of Shangri-la at The Fort.
The celebration was attended by business contacts, shareholders, friends and partners of the the ICCP Group composed mostly of leading businessmen, the Diplomatic Corps, industry and professional associations, and government officials.
Mr. Guillermo “Guilly” D. Luchangco, Founder, Chairman & CEO of the ICCP Group, in his speech, said that their business is founded on integrity, ethics, and quality. These values have carried the Group through the years. The Group is sought out for business opportunities because they are known to emphasize on quality of work and high standards of professional competence.
Initiatives of the Group have resulted in successful companies, such as Science Park of the Philippines Inc., Pueblo de Oro Development Corporation and Manila Exposition, Inc. in property development and Investment & Capital Corporation of the Philippines and ICCP Venture Partners, Inc., the investment bank and venture capital arm respectively, of the Group in financial services.
Since its founding in 1988 as an investment house, the company has grown into a conglomerate of more than 14 companies. In his closing remarks, Mr. Luchangco ended on a high note, “We’ve been here for 30 years, but I feel like we’re just getting started . My hope is that the ICCP Group will expand in step with the country’s booming economy.”