Liberty Flour Mills to IPO property unit on November 9

Liberty Flour Mills [LFM 18.00] [link] will list its property unit, LFM Properties Corporation [LPC 0.107 pre-IPO], on November 9.

The listing is by way of introduction, which is a method of IPO where the parent company, in this case LFM, distributes shares in the new company, in this case LPC, to LFM shareholders and then lists those shares on the PSE for trading.

LFM shareholders will receive 69 (nice) LPC shares for each LFM share owned on the record date, which was December 18, 2020