Lum Chang Creations to move to SGX mainboard on Jul 16

[SINGAPORE] Urban revitalisation specialist Lum Chang Creations will transfer its listing from the Catalist board to the mainboard of the Singapore Exchange (SGX) on Thursday (Jul 16), the firm said on Monday.

Lum Chang Creations was spun off from mainboard-listed Lum Chang – a property management, interior design and construction company – after an internal restructuring in June 2025. It made its Catalist debut the following month.

It received in-principle approval from SGX for the mainboard transfer in February 2026, with its managing director Lim Thiam Hooi noting the company’s desire to elevate its corporate profile, enhance its visibility among institutional investors, and have a stronger platform for its next growth phase.

On Jun 30, Lum Chang Creations completed a placement of 35 million shares at S$0.759 apiece, raising gross proceeds of about S$11.4 million. The move was to increase its public float ahead of transferring its listing to the mainboard.

The placement price represented a discount of 9.92 per cent to the volume-weighted average price of S$0.8426 for trades done on Jun 17.

The firm said about S$6 million of the S$10.8 million in net proceeds will go towards exploring acquisitions, investment opportunities, as well as strategic alliances or joint ventures.

The rest will be for general corporate working capital purposes, supporting the group’s expansion into regional markets, and growing its portfolio of interior fit-out as well as additions and alterations projects in the high-end residential sector, it added.

The placement comprised 15 million new shares issued by the company and 20 million existing shares sold by Lum Chang and Lim. It was “well-received” by investors including Amova Asset Management, Ginko-AGT Global Growth Fund and Lion Global Investors.

In a third-quarter business update on May 19, Lum Chang Creations said the group’s order book stood at about S$144 million as at Apr 30, with new contract wins secured for Covenant Evangelical Free Church and Baba House at Neil Road.

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In the year to Q3 FY2026, group revenue totalled S$71.9 million, up from the S$53.5 million recorded in the first half of the financial year.

The counter ended Monday at S$0.375, down S$0.02 or 5.1 per cent, before the announcement.