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DD Plans P7.5 Bn Follow-on Offering. Double Dragon Properties
Corp. plans to conduct a follow-on offering (FOO) of 150 Mn shares
amounting to P7.5 Bn, in a bid to join the PSEi in the near term.
Currently, DD has a free float level of 25.6% and will have a 30.3%
float after the FOO. Assuming DD will reach its 2020 net income
target of P5.5 Bn, earnings will record a CAGR of 50.25%. Price to
book estimates for 2018 stood at 3.6x while 2018PER stood at 46.9x
assuming current price levels.
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