Lum Chang Holdings (SGX:L19) is mulling over a spin-off of majority owned indirect subsidiary, Lum Chang Interior, via a proposed initial public offering and listing on the Catalist board, according to a filing with the Singapore Exchange on Thursday.
In lieu of the proposed spin-off listing, the company could undertake a distribution-in-specie of some of Lum Chang Interior's ordinary shares held by the company to shareholders.
Lum Chang has an 80% stake in LCI through a wholly owned subsidiary, Lum Chang Asia Pacific. The subsidiary carries out interior fit-out business for its parent.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments