Lum Chang Holdings Limited said on Jun, 18 2026 that it has signed a placement agreement with DBS Bank, CGS International Securities Singapore and RHB Bank to sell up to 12.3 million shares in its 71.11-owned subsidiary Lum Chang Creations Limited (LCC) at S$0.759 per share.

The sale, part of a wider placement of as many as 35 million LCC shares by Lum Chang Holdings, LCC and LCC Managing Director Lim Thiam Hooi, will raise gross proceeds of about 9.3 million Singapore dollars for Lum Chang Holdings and net about 9.1 million Singapore dollars after expenses.

Post-transaction, if all placement shares are taken up, Lum Chang Holdings’ stake in LCC will fall to 64.15 percent, a reduction of roughly 6.96 percentage points, though LCC will remain its subsidiary. The placement is intended to lift LCC’s public float to meet Singapore Exchange Mainboard listing requirements ahead of LCC’s planned transfer from the Catalist board.

The company said proceeds will be used mainly to repay bank borrowings and for general corporate and working-capital purposes. The disposal, together with LCC’s concurrent issue of 15 million new shares, is classified as a “discloseable transaction” under SGX Listing Rule 1006, with the key relative figure—the net profit test—amounting to 7.4 percent.

Lum Chang Holdings noted a 90-day lock-up on its remaining LCC shares and cautioned that completion of the placement remains subject to conditions in the placement agreement. The group will provide further updates as necessary.