Lum Chang Creations Delays Share Placement; Shares Down 4%

MT Newswires

06/08

Lum Chang Creations (SGX:LCC) has decided to delay its planned share placement, a prerequisite for the transfer of its shares to the Mainboard of the Singapore Exchange Securities Trading, driven by market volatility, according to a Monday bourse filing.

The interior fit-out services company had earlier proposed placing new shares to meet SGX's minimum spread requirements, along with bonus shares for existing shareholders.

While the company secured shareholder approval for the transfer, unfavorable market conditions prompted the decision.

Shares of the company were down over 4% in Monday trading.

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