2017 marks as the era for LBC express holdings to garner more strength in developing its internal infrastructure to assist more Filipinos working abroad. A pioneer in the cargo industry, its board of directors approved the plan to redefine and follow on the offering with the Securities and Exchange Commission, covering up to P1.520 billion of common shares.
Ten million new common shares will be issued as primary offering and 59.101 million shares as secondary offering.
“The indicative offer price for the follow-on offering is up to P22.00 per share,” the company said.
“The company expects to use the net proceeds from the offering for general corporate purposes and working capital, including the expansion of retail and corporate business, information technology development, and other corporate purposes,” it added.
Proving it’s strong grasp in the OfW market, a strength of force to recapitalize is to be had as it captures a long term vision to cement its lateral expansions.
With a positive direction and forward dynamention, LB Cs robust expansion and networks only prove one point, that they like to keep it moving…forward!