LBC Express Holdings, Inc. (LBC) Stock Price

LBC Express Holdings, Inc. (LBC), formerly Federal Resources Investment Group, Inc. (FED), was incorporated on July 12, 1993 as Federal Chemicals, Inc. to engage in the manufacture of various adhesives and sealants and other chemicals for hardware, construction, do-it-yourself, and industrial applications. In July 2015, LBC Development Corporation (LBCDC) completed its tender offer to FED's shareholders and became the owner of 59.1% the Company. By October 2015, LBCDC acquired more shares and increased its equity interest in FED to 84.6%. FED subsequently applied for the change in corporate name to the present one, which the SEC approved on October 12, 2015. The Company, however, maintained its primary purpose of being a holding company. LBC's business comprises of two primary segments: logistics and money transfer services. The logistics business serves retail customers and corporate customers. Meanwhile, the money transfer services segment is comprised of both domestic and international remittance services. As of December 31, 2022, LBC offered logistics services at 1,613 Company-owned branches in the country and 73 Company-owned, and 535 partner-agent branches in 29 other countries and territories worldwide. Source: SEC Form 17-A (2022)