News Flash

August 31, 2015, Monday
  • CBCP calls on Catholics not to support same-sex marriage. 2 hours ago |
  • 5 mountaineers drown in Nagsasa Creek in San Jose, Tarlac on Monday afternoon. 3 hours ago |
  • Phivolcs records 5 tremors in areas in Southern Mindanao. 3 hours ago |
  • Petron to implement a P 2.25/kilo rollback on the price of LPG on Tuesday. 3 hours ago |
  • Sandiganbayan issues hold departure orders vs. Fmr. Agusan Del Sur Rep. Rodolfo Plaza & 7 others linked to pork barrel scam. 3 hours ago |
  • Binay’s camp claims De Lima is prioritizing political ambition over the resolution of PDAF and SAF 44 cases. 3 hours ago |
  • Binay’s camp calls on Justice Sec. Leila de Lima to resign. 3 hours ago |
  • DILG Sec. Mar Roxas says gov’t & INC leaders have been in contact with one another since the beginning of the rally at DOJ. 3 hours ago |
  • Presidential Spokesperson Edwin Lacierda says INC’s protest peacefully ended through goodwill and convergence of efforts. 3 hours ago |
  • Deputy Pres’l Spokesperson Abigail Valte says talks between gov’t & INC centered on clarification of issues & concerns. 3 hours ago |
  • Palace says there has been no deal made between gov’t and Iglesia ni Cristo. 3 hours ago |
  • Pres. Aquino led the National Heroes’ Day commemoration at the Libingan ng mga Bayani in Taguig City. 8 hours ago |
  • Presidential Spokesperson Edwin Lacierda thanks the INC for ending its 5-day protest rally. 8 hours ago |
  • 9 killed in a collision between a multicab & a truck before dawn Monday in Tacurong City, Sultan Kudarat. 8 hours ago |
  • Pres. Aquino calls on people to unite & set aside personal interests during his message on National Heroes’ Day. 8 hours ago |
  • Bayan Muna Party-list Rep. Neri Colmenares says the right of expelled INC Minister Isaias Samson Jr. to file a complaint must be respected. 8 hours ago |
  • CIBAC Party-list Rep. Sherwin Tugna says DOJ must continue hearing the complaint of expelled INC Minister Isaias Samson Jr. 8 hours ago |
  • Fire kills 6 stay-in workers in a bakery in Taal, Batangas. 8 hours ago |
  • Clean-up of area around EDSA-Shaw Boulevard ongoing following 5 days of INC’s protest. 8 hours ago |
  • Traffic flow now moving along EDSA-Shaw Boulevard in Mandaluyong City. 8 hours ago |
  • Some INC members still trooped to DOJ early Monday morning & left only after INC’s announcement that the protest was over. 8 hours ago |
  • Commuters who were at EDSA-Mandaluyong area about 6 am Monday experienced monstrous traffic jam due to INC rally. 8 hours ago |
  • INC members rejoiced upon hearing their leaders’ announcement at about 8 am Monday that they are ending the protest. 9 hours ago |
  • LRTA says the remaining value stored in the magnetic cards can be transferred to beep cards. 9 hours ago |
  • LRT-2 removes from all its stations the gates for magnetic cards as it paves the way for beep cards. 9 hours ago |
  • Registration for 2016 polls continues in selected malls in the provinces. 9 hours ago |
  • Comelec reminds public to register for 2016 elections before deadline comes on October 31. 9 hours ago |
  • Rains forecast over Central Luzon, Bicol, Isabela, Quirino, Rizal and Quezon. 9 hours ago |
  • Possibility of the LPA near Baler, Aurora developing into a storm remote. 9 hours ago |
  • LPA located at sea 390 kms. east southeast of Baler, Aurora. 9 hours ago |
  • INC evangelist Bienvenido Santiago says INC is concluding its protest as it has reached an understanding with gov’t. 9 hours ago |
  • Iglesia ni Cristo (INC) ends its protest at EDSA-Shaw Boulevard in Mandaluyong City. 9 hours ago |

DoubleDragon readies P1-b IPO

By Jenniffer B. Austria | Feb. 01, 2014 at 12:01am

DoubleDragon Properties Inc., a property company jointly owned by Jollibee Foods Corp. chairman Tony Tan Caktiong and businessman Edgar Sia II, said Friday it plans to raise P1.16 billion through an initial public offering within the year.

DoubleDragon said in a statement it filed an IPO application with the Securities and Exchange Commission to offer 579.730 primary offer shares for a maximum price of  P2 apiece.

The shares would account for 26 percent of the company’s outstanding capital stock of P2.22 billion and market capitalization of up to P4.45 billion.

The company said it would use proceeds from the IPO to partially fund the rollout of a branded community mall chain called CityMall and other prospective residential, commercial and mixed-use real estate developments.

DoubleDragon is the second joint venture between Injap Investments Inc. owned by Sia and Honeystar Holdings Corp., headed by Tan Caktiong.

In 2010, Jollibee acquired a 70-percent interest in fast-growing grilled chicken restaurant chain Mang Inasal, which was founded by Sia, for P3 billion. Injap Investments retained a 30-percent stake in Mang Inasal.

CityMall is envisioned to become one of the largest independent branded community mall chain in the Philippines with floor area of 5,000 to 1,000 square meters each. These community malls will be built in prime locations across the country, mostly in the Visayas and Mindanao.

DoubleDragon said it aimed to roll out a total of 100 CityMall community malls by 2020.

The company recently completed the acquisition of 12,645 square meters of commercial land on Arnaldo Boulevard in Roxas City, which will be the site of the first CityMall.

DoubleDragon said aside from the CityMall community mall chain, it also intended to complete three office towers over the next six years in different central business districts in Metro Manila which would be leased out to corporate and BPO tenants.

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