FEDERAL Resources Investment Group Inc., the backdoor listing vehicle of courier group LBC, is planning to do a follow-on offering ahead of the backdoor listing of LBC using the dormant company.
In a disclosure to the Philippine Stock Exchange on Monday, Federal Resources said its board of directors on Friday approved to sell up to 69.101 million shares – 10 million new common primary shares and 59.101 million secondary and outstanding common shares.
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