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Friday, 7 June 2024, 16:00 HKT/SGT

Source: Go Hub Capital Sdn Bhd
Go Hub Capital Berhad Inks Underwriting Agreement with UOB Kay Hian Securities
The Group's listing exercise involves public issue of 107.18 million shares

KUALA LUMPUR, June 7, 2024 - (ACN Newswire) - Go Hub Capital Berhad (“Go Hub” or the “Company”), a key transportation information technology (IT) solutions provider, is pleased to announce that it has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) in preparation for its Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

From left: Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub, Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd
From left: Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub, Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd

Go Hub’s listing exercise involves the public issue of 107,180,000 new ordinary shares. The IPO shares will be allocated in the following manner:

Malaysian public

20,000,000 IPO shares made available for application by the Malaysian public.

Eligible persons

12,000,000 IPO shares reserved for application by eligible directors and employees as well as persons who have contributed to the success of the Group.

Private placement to selected investors

75,180,000 IPO shares made available by way of private placement to identified institutional and/or selected investors.

UOBKH will underwrite 32,000,000 IPO shares made available to the Malaysian public and eligible persons as part of the underwriting agreement. 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 has MSC Malaysia Status (now known as Malaysia Digital Status).

Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub said, “We are gearing up to expand our technological footprint and solution offerings within the transportation sector, and this IPO is a strategic step in that direction. We are excited to collaborate with UOB Kay Hian to facilitate our listing on the ACE Market. The IPO proceeds raised will be primarily fuel our business expansion plans, which includes 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.”

Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, Mr. David Lim commented, “We are enthusiastic to collaborate with Go Hub on its listing exercise. 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.”

As an established provider of specialised IT services in the transportation industry, Go Hub has consistently demonstrated strong commitment towards innovation and excellence. The Group’s strategic initiatives and technological advancements have solidified its position as a key player in transforming Malaysia’s transportation landscape.

Go Hub Capital Berhad http://gohubcapital.com.my 

Topic: Press release summary
Source: Go Hub Capital Sdn Bhd

Sectors: Exchanges & Software, Daily Finance, Cloud & Enterprise
From the Asia Corporate News Network

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