Lum Chang Creations IPO 47.3 times subscribed

It raised gross proceeds of $12.25m.

Lum Chang Creations Limited (LCC), a Singapore-based urban revitalisation specialist, has completed its initial public offering (IPO) with strong demand, raising $12.25m.

The IPO offered 49 million shares at $0.25 each.

The public offer of 1 million shares was 47.3 times subscribed, receiving 599 valid applications for 47.3 million shares and $11.8m in application funds.

The 48 million placement shares were fully subscribed, raising $12m.

Institutional investors, including Lion Global Investors, Nikko Asset Management Asia, and others, participated in the offering.

Total gross proceeds include $8.75m from new shares and $3.5m from vendor shares. The IPO gives LCC a market capitalisation of $78.75m based on its post-offer share capital of 315 million shares.

RHT Capital Pte. Ltd. is the issue manager and full sponsor. CGS International Securities Singapore Pte. Ltd. is the underwriter and placement agent.

LCC, through key subsidiary Lum Chang Interior Pte. Ltd., specialises in conservation, restoration, interior fit-out, and addition & alteration works. It operates across sectors including public, commercial, retail, and hospitality.

Its retail arm, Lum Chang Brandsbridge Pte. Ltd., also manufactures custom wood fixtures for retail clients.

The company plans to recommend dividends of at least 30% of net profit for FY2025 and FY2026.

Lum Chang Creations will begin trading on the SGX Catalist board at 9:00 a.m. on 21 July 2025 under the ticker “LCC”.