LHN gets SGX nod to list co-living business Coliwoo on mainboard; shares jump 8.7%
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Coliwoo's parent company LHN Group cited weak trading volumes for its decision to quit the Hong Kong market.
PHOTO: COLIWOO
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SINGAPORE - The Singapore Exchange has approved the mainboard listing of co-living business Coliwoo.
Parent company LHN Group, which gave the update on Sept 10, 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.
LHN 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 4pm.
In its third-quarter business update, LHN said its space optimisation business remained a major revenue contributor.
As at June 30, LHN managed more than 330,000 sq ft of commercial properties and over 1.8 million sq ft of industrial properties.
During the third quarter ended Sept 30, it renewed two existing master leases for industrial properties in 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 the third quarter 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 June 1, adding 382 rooms to its portfolio. The property will be converted into a resort chalet and is set to start operating in the third quarter of financial year 2026.
LHN shares ended Sept 10 up 8.1 per cent, or seven cents, at 93 cents. THE BUSINESS TIMES
