Under the public offer of 1 million shares, Lum Chang Creations received 599 valid applications, amounting to 47.3 million shares or $11.8 million.
The placement shares - 48 million of them - were also fully subscribed, raising some $12 million.
The invitation saw strong interest and commitment from various investors, including Lion Global Investors Limited, Ginko-AGT Alpha Fund VCC, Nikko Asset Management Asia Limited, Asdew Acquisitions Pte Ltd and ICHAM Master Fund VCC.
Shares throughout the day rose as high as 32.5 cents as at 10am, giving the company a market capitalization of $81.2 million. LCC says that the public tranche was 47.3 times oversubscribed.
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Managing director Lim Thiam Hooi says that the proceeds from the IPO will support its expansion into high-end residential projects and potential growth in regional markets.
LCC provides services including heritage conservation and restoration; interior fit-out works for public, commercial and retail spaces; and addition and alteration (A&A) for brownfield and built environments.
Shares in Lum Chang closed flat at 30.5 cents on July 21.
