Go Hub executive director and CEO Tan Cherng Thong
KUALA LUMPUR: Go Hub Capital Bhd has got the green light from Bursa Malaysia to list on the ACE Market following a planned initial public offering (IPO) of 107.17 million shares.
In a statement, the transport information technology solutions provider said it would issue 20 million shares to the Malaysian public, reserve 12 million for eligible directors and employees and offer 75.18 million shares through private placement to institutional and selected investors.
This IPO does not involve an offer for sale and placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry as the operating company, NSS IT Solution Sdn Bhd, has MSC Malaysia Status (now known as Malaysia Digital Status).
According to the company, the proceeds from the IPO will be strategically allocated to enhance and expand its operations, with a primary focus on expanding its technical and operational capabilities as well as to support its expansion to new market segments.
Go Hub focuses on providing tailored IT solutions (encompassing customised software development systems and integration of hardware and software system) with an established track record in the bus and rail segments.
It also extends its offerings to include maintenance and support services as well as terminal management services for the IT solutions that Go Hub delivers to its customers.
"Securing the listing on ACE Market marks a significant milestone for Go Hub as we continue to expand our market presence in the local transportation segments.
"This aligns with our strategic vision to elevate our local public transportation systems through continuous innovation and seamless integration of various mode of public transportation systems with the aim to enhance daily commuting experience (with reliability, convenience and efficiency)," said Go Hub executive director and CEO Tan Cherng Thong.
UOB Kay Hian Securities (M) Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Go Hub.
