With a total share base of 315 million, the company's market capitalisation based on the IPO price will be $78.75 million.
Lum Chang Creations, spun off Lum Chang Holdings, has launched its initial public offering (IPO) at 25 cents per share, with a view to raise gross proceeds of $8.75 million.
One million shares will be available in the public tranche and another 34 million new shares to be sold via placement. In addition, there will be another 14 million in vendor shares. Including the vendor shares, the company seeks to raise a total of $12.25 million in proceeds.
