LHN shareholders approve Coliwoo spin-off and dilution

LHN Limited's shareholders approved the proposed spin-off and listing of Coliwoo Holdings, alongside a dilution of LHN's indirect equity interest in the subsidiary by 20.0% or more. Both resolutions passed with 99.99% of votes cast for and 0.01% against. The extraordinary general meeting was held on Tuesday, September 9, 2025.

The spin-off aims to raise immediate funds for Coliwoo Holdings' growth strategy, which includes increasing the number of rooms by approximately 800 to 1,000 keys per year, with an average cost per room of around S$50,000. Coliwoo Holdings will primarily focus on Singapore for its expansion and will operate independently from the New LHN Group post-spin-off, which will concentrate on its industrial and commercial space optimisation, facilities management, property development, and energy segments.

The company expects the spin-off to positively impact its net asset value per share, with an indicative market capitalisation for Coliwoo Holdings projected between S$257 million and S$359 million. Lim Lung Tieng will transition from group managing director of LHN to chief executive of Coliwoo Holdings, while remaining executive chairman of both entities.