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Markets

DDMP REIT makes Philippine market debut amid tepid trading

Listing during pandemic 'no walk in the park,' says chairman Edgar Sia

DDMP REIT, which listed on the Philippine Exchange on March 24, has six tower offices in its portfolio. (Photo by Jun Endo)

MANILA -- The Philippines' first IPO of 2021 got off to a subdued start on Wednesday, with shares in DDMP REIT closing flat while the broader market edged slightly higher.

Shares in DDMP opened 0.44% higher than their offering price and rose nearly 7% at one point before falling back by the end of trading. The benchmark Philippine Stock Exchange index closed 0.8% higher.

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