The Philippine Stock Exchange Inc. (PSE) has approved the listing of LFM Properties Corp. by way of introduction. Know more:
The Philippine Stock Exchange Inc. has approved the listing of LFM Properties Corp. by way of introduction.
The company’s parent distributed 10.35 billion common shares of LFM Properties as property dividend to all of its stockholders as of December 18, 2020.LFM Properties will then list by way of introduction 25 billion common shares at an initial listing price of 10.7 centavos each. The PSE’s rules on listing by way of introduction indicate that listing may be appropriate where the securities of an unlisted issuer are distributed by way of property dividend by a listed issuer to shareholders of that listed issuer.
LFM’s products consist mainly of bakery flour products under the brands El Superior, LFM Bakers, Pine Tree and LFM Soft. The products are exclusively distributed and marketed by Parity Values Inc., Trade Demands Corp. and Liberty Commodities Corp. LFM sells its products mainly on a wholesale basis principally to members of the baking and food supply industry nationwide.
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