City Mall in Sorsogon, Legazpi, Ligao, Tabaco and Naga

DD secures SEC nod for P15-b fund raising

by Jenniffer Austria | Manila Standard

The Securities and Exchange Commission approved the P15-billion shelf registration of property developer DoubleDragon Properties Corp.

DoubleDragon said in a disclosure to the stock exchange the corporate regulator also approved the company’s initial offering of P10 billion worth of 10-year fixed-rate bonds to be issued next month.

Nearly half of the proceeds will be used to finance land development and construction of CityMalls, it said.

“The proceeds from the offer will be used to partly finance the construction of 5 to 10 CityMalls and acquisitions of 12 to 19 CityMall sites,” DoubleDragon said,

The 10 CityMalls currently under construction are located in Sultan Kudarat, Surigao City, San Jose Antique, Ozamiz City, Pagadian City, Calamba Laguna, Palo Leyte, Ormoc City, Pangasinan and Sorsogon City.

The company also explores potential CityMall sites in Butuan City, Cabadbaran (Agusan del Norte), Bayugan (Agusan del Sur), Legazpi, Ligao (Albay), Tabaco (Albay), Lamitan (Basilan), Balanga (Bataan), Batangas City, Tanauan (Batangas), Lipa City, Baguio, Malaybalay (Bukidnon), Valencia (Bukidnon), Malolos, Meycauayan, San Jose Del Monte, Iriga. Naga, Bacoor and Cavite City. [Read more]