KUALA LUMPUR: Transportation information technology (IT) solutions provider Go Hub Capital Bhd has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market.
Go Hub focuses on provides customised software development systems and integration of hardware and software system in the bus and rail segments.
It also offers maintenance and support services as well as terminal management services.
The initial public offering (IPO) comprises a public issue of 107.18 million new ordinary shares in Go Hub.
About 20 million shares will be made available to the Malaysian public, 12 million reserved for eligible directors and employees, and 75.18 million offered through private placement to institutional and selected investors.
Go Hub said the IPO does not involve an offer for sale and placement to Bumiputera investors as the operating company, NSS IT Solution Sdn Bhd has MSC Malaysia Status (now known as Malaysia Digital Status).
The company plans to use the proceeds from the IPO 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 chief executive officer and executive director Tan Cherng Thong said securing the listing on ACE Market aligns with its strategic vision to elevate its local public transportation systems through continuous innovation and seamless integration of various mode of public transportation systems.
UOB Kay Hian Securities is the principal adviser, sponsor, underwriter and placement agent for Go Hub.
