THE Philippine Stock Exchange (PSE) has rejected three listing applications of Araneta-led LBC Express Holdings, Inc., including the company’s bid to list 10 million common shares that it had planned to issue in a follow-on offering.
In a disclosure on Thursday, LBC Express said the PSE’s rejection was due to the ongoing civil case filed by the Philippine Deposit Insurance Corp. (PDIC) against the company, LBC Development, LBC Properties, and certain members of the Araneta family.
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