Company Coverage
Lum Chang Creations (LUCC SP): Rerating Ingredients In Place From Mainboard Transfer And Liquidity Enhancement
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
S$0.375
S$0.510
+36.0%
S$0.390
Analyst
Analyst
Highlights
- LCC’s Mainboard transfer remains on track, meeting all requirements for its SGX Mainboard listing.
- LCC's placement and bonus issue enhance its capital base, trading liquidity, and readiness for Mainboard listing.
- Maintain BUY with a higher target price of S$0.510. Catalysts include a successful Mainboard transfer and stronger order wins.
Analysis
- Conditions for Mainboard transfer satisfied. Lum Chang Creations (LCC) recently announced that it has satisfied all conditions attached to the SGX-ST's Approval-in-Principle for its transfer from the Catalist Board to the Mainboard. The final condition, being confirmation of compliance with Catalist Rule 408(7) and Mainboard Rule 213, was submitted on 1 Jul 26 after the successful completion of the proposed placement on 30 Jun 26. As at that date, public shareholding spread stood at 25.44% with 663 shareholders. This Mainboard transfer also underscores management's confidence in the sustainability of the group's core business and its readiness to progress to the next stage of growth.
- Placement completion. LCC recently completed its placement of 35.0m shares (15.0m new, 20.0m existing sold by Lum Chang Holdings (LCHL) and Mr Lim) at S$0.759 per share, raising gross proceeds of approximately S$11.4m and net proceeds of S$10.8m, drawing participation from institutional and high net worth investors. Total issued share capital rose from 315m to 330m shares, with LCHL remaining the largest shareholder at 64.2%. Proceeds will fund regional expansion, high-end residential fit-out projects, M&A opportunities, and working capital, while also lifting LCC's public float to meet Mainboard requirements.
- Bonus issue doubling share count. LCC completed its bonus issue of 330m new shares on a one-for-one basis, with bonus shares credited to shareholders' CDP accounts on 13 Jul 26. Total issued share capital has increased from 330m to 660m shares. The bonus shares are now listed and quoted on Catalist with effect from 9.00am on 13 Jul 26. This bonus issue supports LCC by enlarging its share base and improving trading liquidity, aligning with the company's positioning for a broader institutional shareholder base as it transitions to the Mainboard.
Highlights
- LCC’s Mainboard transfer remains on track, meeting all requirements for its SGX Mainboard listing.
- LCC's placement and bonus issue enhance its capital base, trading liquidity, and readiness for Mainboard listing.
- Maintain BUY with a higher target price of S$0.510. Catalysts include a successful Mainboard transfer and stronger order wins.
Analysis
- Conditions for Mainboard transfer satisfied. Lum Chang Creations (LCC) recently announced that it has satisfied all conditions attached to the SGX-ST's Approval-in-Principle for its transfer from the Catalist Board to the Mainboard. The final condition, being confirmation of compliance with Catalist Rule 408(7) and Mainboard Rule 213, was submitted on 1 Jul 26 after the successful completion of the proposed placement on 30 Jun 26. As at that date, public shareholding spread stood at 25.44% with 663 shareholders. This Mainboard transfer also underscores management's confidence in the sustainability of the group's core business and its readiness to progress to the next stage of growth.
- Placement completion. LCC recently completed its placement of 35.0m shares (15.0m new, 20.0m existing sold by Lum Chang Holdings (LCHL) and Mr Lim) at S$0.759 per share, raising gross proceeds of approximately S$11.4m and net proceeds of S$10.8m, drawing participation from institutional and high net worth investors. Total issued share capital rose from 315m to 330m shares, with LCHL remaining the largest shareholder at 64.2%. Proceeds will fund regional expansion, high-end residential fit-out projects, M&A opportunities, and working capital, while also lifting LCC's public float to meet Mainboard requirements.
- Bonus issue doubling share count. LCC completed its bonus issue of 330m new shares on a one-for-one basis, with bonus shares credited to shareholders' CDP accounts on 13 Jul 26. Total issued share capital has increased from 330m to 660m shares. The bonus shares are now listed and quoted on Catalist with effect from 9.00am on 13 Jul 26. This bonus issue supports LCC by enlarging its share base and improving trading liquidity, aligning with the company's positioning for a broader institutional shareholder base as it transitions to the Mainboard.
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
S$0.375
S$0.510
+36.0%
S$0.390
Analyst
Analyst
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