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The latest update is out from Lum Chang Holdings Limited ( (SG:L19) ).
Lum Chang Creations Limited has received approval-in-principle from the Singapore Exchange for the proposed transfer of its listing from the Catalist board to the Mainboard, despite not yet meeting the usual two-year Catalist listing requirement. The company, advised by RHT Capital, secured a waiver based on its strong audited pre-tax profits of S$16.5 million and the recent reduction of Mainboard pre-tax profit requirements from S$30 million to S$10 million.
The approval-in-principle is conditional on Lum Chang meeting all Mainboard listing requirements, making specific announcements on the granted waiver and related conditions, providing board confirmation that the waiver complies with applicable laws, and obtaining shareholder approval via special resolution. If completed, the transfer is expected to enhance the company’s market standing and visibility, potentially benefiting shareholders and strengthening its position within the Singapore capital markets.
More about Lum Chang Holdings Limited
Lum Chang Creations Limited is a Singapore-incorporated company listed on the Singapore Exchange’s Catalist board, operating as part of a broader group of subsidiaries. The group focuses on generating consistent profitability, as evidenced by its pre-tax profits of S$16.5 million following its initial public offering, positioning it to meet the SGX Mainboard’s revised profitability thresholds.
Average Trading Volume: 173,991
Technical Sentiment Signal: Buy
Current Market Cap: S$267.4M
For an in-depth examination of L19 stock, go to TipRanks’ Overview page.