- | LBC Express Holdings Inc. will withdrew its planned P1.5B share sale plan |
- | $LBC has decided to withdraw the application considering inconsistency in the financial statement |
| $LBC won’t go with FOO |
Logistics firm LBC Express Holdings Inc. said it withdrew its planned P1.5-billion share sale plan. LBC said in disclosure to the stock exchange it filed with the Securities and Exchange Commission the withdrawal of its application to conduct a follow-on offering for up to 69.1 million shares as the company’s financial statements included in the registration statement became outdated.
The company said it needed to update the financial statements filed with the SEC. It anticipates that it will take some time to have its financial statements audited or reviewed, and for this reason has decided to withdraw its offer, without prejudice to a possible re-filing by the Company of such application at a later date.
October 8, 2019 2:17 pm