Lum Chang Creations weighs market volatility before Mainboard transfer

Share placement must be completed to meet SGX public float rules. 

Lum Chang Creations said it is still assessing market conditions for its proposed placement, which must be completed before its planned transfer to the SGX Mainboard can take effect.

The update comes as the company monitors market volatility since its extraordinary general meeting (EGM) on 25 May, according to a bourse filing.

Shareholders approved the proposed transfer and proposed bonus issue at the EGM.

The company said the proposed placement must be completed before the proposed transfer becomes effective so that it can meet minimum spread requirements.

It added that it will apply to SGX for the bonus shares and set the record date only when it has more clarity on the timing of the proposed placement.

Lum Chang Creations had earlier proposed a transfer from the SGX Catalist Board to the Mainboard after reporting a net profit attributable to equity holders of $11m for the first half of 2026, up 104% year on year.

The proposed transfer was aimed at enhancing its corporate profile and broadening its investor base.

The group will keep shareholders updated on the proposed placement, proposed transfer and proposed bonus issue.