LHN surges over 8.1% on SGX approval for Coliwoo mainboard listing, positive Q3 update
Its space optimisation business remains a major revenue contributor
[SINGAPORE] Shares of LHN ended the day 8.1 per cent higher on Wednesday (Sep 10) on news that the Singapore Exchange has approved the mainboard listing of its co-living business Coliwoo, and an upbeat update of the group’s third-quarter performance.
Its shares climbed S$0.09 to a peak of S$0.95 as at 1.52 pm, up from the previous closing price of S$0.86. The counter closed slightly lower at S$0.93, with 11.7 million shares having changed hands.
LHN also said in a separate statement that its move to delist from Hong Kong has been approved by the Stock Exchange of Hong Kong and the company’s shareholders.
It had cited weak trading volumes for its decision to quit the Hong Kong market. The last day of its trading there is expected to be Oct 30, and the company will delist on Nov 4 at the close of trading at 4 pm.
In its Q3 business update, LHN said that its space optimisation business remained a major revenue contributor.
As at Jun 30, the company managed more than 330,000 sq ft of commercial properties and over 1.8 million sq ft of industrial properties.
During the quarter, it renewed two existing master leases for industrial properties at Depot Lane and Woodlands Mandai Estate, while its Work+Store storage solutions business launched its second air-conditioned facility at 38 Ang Mo Kio.
Its co-living business continued to grow in Q3 as Coliwoo Hotel Kampong Glam began operations.
The company also secured one new master lease for a state-owned property at 159 Jalan Loyang Besar, which commenced on Jun 1, adding 382 rooms to its portfolio. The property will be converted into a resort chalet and is set to start operating in Q3 FY2026.
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