KUALA LUMPUR: Go Hub Capital Bhd is issuing 107.18 million new shares for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
Of this, 20 million shares will be available for application by the Malaysian public, 12 million shares for eligible persons and 75.18 million shares to selected investors via private placement.
The IPO does not involve an offer for sale and placement to Bumiputera investors approved by the Investment, Trade and Industry Ministry as the operating company, NSS has MSC Malaysia Status (now known as Malaysia Digital Status).
Go Hub, a provider of specialised IT services in the transportation industry, today entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd in preparation for the IPO.
Go Hub executive director and chief executive officer Tan Cherng Thong said the company is gearing up to expand its technological footprint and solution offerings within the transportation sector.
"We are excited to collaborate with UOB Kay Hian to facilitate our listing on the ACE Market. The IPO proceeds raised will primarily fuel our business expansion plans, which include the expansion of our technical capabilities and workforce.
"Our aim is to expand our IT solutions for transportation industry, enhancing customer engagement through digital transformation, and exploring new opportunities in adjacent markets," he said in a statement.
UOB Kay Hian chief executive officer David Lim said Go Hub's strong performance, driven by its innovative and comprehensive IT solutions in transportation industry, presents a compelling investment opportunity.
"We look forward to supporting Go Hub's journey as it transitions into a publicly listed company," he added.