KUALA LUMPUR: Nationgate Holdings Bhd
(NatGate) is seeking to transfer its listing and quotation for the entire issued share capital of the company from the ACE Market to the Main Market of Bursa Malaysia.
In a filing with Bursa Malaysia today, the company said it has also proposed an amendment to the constitution of NatGate to facilitate the implementation of the proposed transfer.
"As at April 1, 2024, being the last practicable date prior to this announcement, NatGate has an issued share capital of RM304.54 million comprising 2.07 billion ordinary shares in the company,” it said.
It expects the proposed transfer to enhance the company’s prestige and reputation, and will accord NatGate with greater recognition and acceptance among investors, in particular, institutional investors.
"The proposed transfer will also promote NatGate’s corporate image leading to greater recognition and confidence to clients, subcontractors, business partners, bankers, employees and shareholders,” it said.
NatGate was listed at a market capitalisation of RM788.09 million.
It also said the proposed amendment was necessary to incorporate the relevant amendment to the constitution of the company to facilitate the transfer and will be implemented simultaneously with the proposed transfer.
"Barring any unforeseen circumstances, the proposals are expected to be completed in the first half of 2024,” it added. - Bernama
