LFM Properties Corp., a unit of Liberty Flour Mills Inc., is eyeing listing by introduction at the Philippine Stock Exchange.
The listing does not require the company to issue new shares to the public and entails Liberty Flour Mills declaring 10.35 billion shares of LFM Properties shares it owns as property dividend to Liberty Flour Mills shareholders as property dividend.
It eyes to be listed at an initial price of P0.107 per share.
Liberty Flour Mills shareholders as of Dec. 18, 2020 are designated beneficiary of the property dividend and will receive LFM Properties shares at a ratio of 69 LFM Properties shares for every Liberty Flour Mills share.
LFM Properties was formerly Alfaro Land Holdings Corp., incorporated on Dec 18, 1995 and later absorbed realtors LFM Land Corp. and Valero Land Corp. on Oct. 4, 2005.
LFM Properties has an authorized capital stock P400 million divided into 30 billion common shares with a par value of P0.01 and 1 million non-voting, non-convertible preferred shares with a par value of P100.00 per share. It has a subscribed, paid-up capital stock of P250 million, divided into 25 billion common shares.
LFM Properties owns the 21-storey, 18,056.68 square meter (sq.m.)-Liberty Plaza Building and the 21-storey, 20, 265.85-sq.m.-Liberty Center Building located in Salcedo Village, Makati City.
It also owns a 2,094 sq.m.-land in Ortigas Center.
