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Go Hub Capital Berhad Receives Green Light from Bursa Securities for ACE Market Listing

Publish date: Wed, 08 May 2024, 12:43 PM

Go Hub Capital Berhad Receives Green Light from Bursa Securities for ACE Market Listing

IPO to Drive Expansion in the Public Transportation Sector

KUALA LUMPUR, 08 May 2024Go Hub Capital Berhad (“Go Hub” or the “Company”), a transportation information technology (IT) solutions provider, is pleased to announced today that it has received the approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) to list on the ACE Market. Go Hub prides itself as a key transportation IT solutions provider in Malaysia, focusing 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. Go Hub 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.

Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub

The initial public offering (“IPO”) according to the prospectus exposure on Bursa Securities’ website comprises a public issue of 107,180,000 new ordinary shares in Go Hub, segmented as follows:

·         20,000,000 shares available to the Malaysian public;

·         12,000,000 reserved for eligible directors and employees; and

·         75,180,000 offered 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).

Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub commented, “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). We also aim to continue to enhance our solution offerings and deliver greater value to our stakeholders.”

Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, Mr. David Lim said, “We are excited to support Go Hub in its growth ambitions, and we believe that the timing is now ideal for them to tap the IPO market for funds. Since its inception, Go Hub has shown remarkable growth and a commitment to innovation to revolutionise our local public transportation systems. Given its established and proven track record as well as technical know-how, we firmly believe that Go Hub is poised to grow and further expand its footprint in our public transportation network. This IPO is a significant milestone which heralds a promising trajectory forward for Go Hub as the funds raised from the IPO will be primarily utilised to lay a strong foundation for Go Hub’s further business expansion.”

The proceeds from the IPO will be strategically allocated to enhance and expand the Company’s operations, with a primary focus on expanding its technical and operational capabilities as well as to support its expansion to new market segments.

UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Go Hub. UOBKH’s expertise and support are instrumental in navigating the complexities of Go Hub’s IPO, ensuring a successful listing that will benefit the Company’s stakeholders and contribute to Go Hub’s long-term success.

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