Orient Freight International, Incorporated announced that it has received PHP 145.885702 million in funding from LBC Express Holdings, Inc.
March 18, 2018
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Orient Freight International, Inc. announced a private placement of 3,285,714 shares at a price of PHP 44.40 per share for gross proceeds of PHP 145,885,702 on March 19, 2018. The transaction included participation from LBC Express Holdings, Inc. (PSE:LBC) to hold 30% stake. The transaction was approved by the board of directors of the investor.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.
LBC EXPRESS HOLDINGS, INC. 
