Construction player Lum Chang’s interior design firm files to list in Catalist IPO
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The move comes after its spin-off from mainboard-listed Lum Chang Holdings was completed, following an internal restructuring exercise on June 19.
PHOTO: LIANHE ZAOBAO
SINGAPORE – Interior fit-out firm Lum Chang Creations has filed a preliminary prospectus for a listing on the Singapore Exchange’s (SGX) Catalist board, the second firm in a week to have lodged documents for a listing on the local bourse.
The move comes after its spin-off from mainboard-listed Lum Chang Holdings was completed, following an internal restructuring exercise on June 19, the construction and property group said in a bourse filing on June 23.
Lum Chang Creations specialises in urban revitalisation projects, with a focus on conservation, restoration, interior fit-out and addition and alteration works.
It also provides aftercare services for certain retail projects and manufactures wood furniture and fixtures for retail customers.
The firm said it is planning to raise funds to grow its regional footprint, expand its portfolio of interior fit-out and addition and alteration projects in the high-end residential segment, explore acquisitions and joint ventures and boost working capital.
Lum Chang Holdings holds 224 million shares in the company, or 80 per cent of its issued share capital, while Lum Chang Creations managing director Lim Thiam Hooi owns the remaining 56 million shares.
Pricing and final share allocation details for the initial public offering (IPO) have not been disclosed and will be set out in the final offer document.
RHT Capital is the sponsor and issue manager, while CGS International Securities Singapore is the underwriter and placement agent for the offering.
Lum Chang Creations’ net profit rose 61.6 per cent to $5.3 million for the six months ending June 2025, up from $3.3 million a year earlier, on the back of higher-margin contributions from conservation and restoration projects.
The firm’s revenue for the period grew 16 per cent to $40.8 million, supported by ongoing projects secured in or before the 2024 financial year, which contributed about $21.6 million.
A new project secured in the first half of 2025 added another $5.8 million.
Shares of Lum Chang Holdings closed up 7.35 per cent at 36 cents on June 24.
If its IPO is successful, Lum Chang Creations would be the second company to list on Catalist in 2025.
On June 20, human resources software firm Info-Tech Systems applied for a mainboard listing.
In April, auto group Vin’s Holdings went public on Catalist, while another company, candy maker YLF Group Marketing, halted its plans to list less than three weeks after it lodged its prospectus.
