DoubleDragon, AREIT announce addition to FTSE indexes

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Metro Manila (CNN Philippines, September 20) — Two listed firms confirmed their inclusion in indexes of the Financial Times Stock Exchange (FTSE) effective September 20.

In a disclosure on Monday, DoubleDragon announced it has been added to the FTSE Global Equity Index Series Asia Pacific Ex Japan and Ex China.

The GEIS has a “robust” global equity index and framework, and is utilized by numerous top equity investment fund managers across the world, DoubleDragon said.

“This indicates a notable recognition of the Company in the international capital markets thereby increasing DoubleDragon's visibility among both domestic and global investors,” the property developer added in a statement.

DoubleDragon chairman Injap Sia also welcomed the development, adding their addition to the index will “further inspire” them to “solidify the Company’s fundamentals for the benefit of all its stakeholders.”

AREIT also reported in a separate regulatory filing that it is now part of the e FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index, likewise effective Monday. Is it the first Philippine real estate investment trust (REIT) firm to achieve such a feat, added AREIT.

This index features several REITs in Asia outside Japan including data centers, diversified portfolio, healthcare, industrial, lodging, office, residential and retail businesses.

It is also part of the FTSE EPRA Nareit Global Real Estate Index Series incorporating REITs and real estate holding and development firms covering global, developed and emerging indices along the alternative investment market of the United Kingdom.

Both shares of DoubleDragon and AREIT closed higher on Monday. Shares of the Sia-led firm finished at ₱10.12 apiece – higher by 1.20% from last Friday’s close. The Ayala Land-sponsored REIT saw stocks close at ₱38.10, a 3.81% climb.