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.
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