Lhn Group’s Co Living Business Coliwoo Holdings Lodges Preliminary Prospectus Mas
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park in 2024By EdgeProp Singapore | 12 November 2021, 10:57AM SGTCo-living business Coliwoo Holdings has submitted its preliminary prospectus to the Monetary Authority of Singapore for its upcoming listing on the Mainboard of the Singapore Exchange. The co-living business, which operates under LHN Group, was established in 2018 and currently has 25 properties in Singapore. Coliwoo aims to expand its portfolio to 4,000 rooms in Singapore by the end of 2026, with a combination of upcoming developments, master lease agreements, and management contracts driving this growth.AdvertisementAdvertisementThe company plans to use the funds raised from its IPO to expand its co-living business through leased properties in existing and new markets, owned and joint venture properties, and for general working purposes including manpower costs. Coliwoo has reported strong performance, with an average occupancy rate of over 95% for all properties in its portfolio in the first half of FY2025.Revenue for 1HFY2025 increased by 16.3% year-on-year to $23.1 million, driven by new sites, full-period revenue contribution from one property, and higher occupancy from other properties. The company reported a profit for the period of $9.6 million for 1HFY2025.Coliwoo had cash and cash equivalents of approximately $28.4 million and indebtedness of about $252.5 million as of August 2025. It generated net cash from operating activities of about $15.4 million and $10.6 million for FY2024 and 1HFY2025, respectively.The company has secured cornerstone investments from Albizia Capital, Avanda Investment Management, B&I Capital, ICHAM Master Fund VCC, Maybank Asset Management, Maybank Securities, UOB Asset Management, Value Partners Hong Kong and Whitefield Capital Management.