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Stock price stabilization bites off P400m from Yujuicos’ cash bonanza from Double Dragon’s REIT IPO

Efforts to prevent Double Dragon’s REIT from falling below its initial public offering price of have cost a big chunk of money to the bilyonaryo couple Benedicto and Teresita Yujuico.

In a report to the Philippine Stock Exchange, Benedicto and Teresita reported spending a combined P401.6 million for market stabilization activities following DDMPR’s listing on 24 March 2021.

This is on top of the P152.034 million the couple spent as part of the expenses for the IPO.

Overall, the Yujuicos received P3.858 billion in net proceeds from the REIT IPO as of March 31.

READ: Injap, Tan Caktiong not the only ones getting richer from Double Dragon REIT IPO: Yujuicos to net P4.4B windfall

DDMPR last traded at P2.19 or three percent below its IPO price.

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