NationGate eyes transfer of listing to Main Market

KUALA LUMPUR: Nationgate Holdings Bhd 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 yesterday, the company said it has also proposed an amendment to its constitution to facilitate the implementation of the proposed transfer.

“As at April 1, being the last practicable date prior to this announcement, NationGate has an issued share capital of RM304.54mil 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 NationGate with greater recognition and acceptance among investors, in particular, institutional investors.“The proposed transfer will also promote NationGate’s corporate image leading to greater recognition and confidence to clients, subcontractors, business partners, bankers, employees and shareholders,” it said. It was listed at a market capitalisation of RM788mil.

The proposed amendment was necessary to incorporate the relevant amendment to the constitution of the company to facilitate the transfer and would be implemented simultaneously with the proposed transfer. — Bernama