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Apr 19, 2016 @ 8:24

DoubleDragon capital hike gets SEC approval


DOUBLEDRAGON PROPERTIES Corp. secured the green light from the Securities and Exchange Commission (SEC) to hike its capitalization, paving the way for the issuance of the preferred shares to investors.

DoubleDragon received last Friday the approval to amend its Articles of Incorporation for the creation of 200 million preferred shares and the increase in its authorized capital stock to P20.5 billion, the property developer said in a disclosure to the stock exchange on Monday.

Likewise, the real estate firm obtained the clearance from the SEC to issue preferred shares out of the capital stock hike following a recently concluded offering of subscriptions to 100 million preferred shares worth P10 billion.

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