Go Hub Capital inks underwriting agreement with UOB Kay Hian Securities

Tan Cherng Thong, executive director and CEO of Go Hub (left), with David Lim, CEO of UOB Kay Hian Securities

KUALA LUMPUR: Go Hub Capital Bhd has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd in conjunction with its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, the transport information technology (IT) solutions provider said UOB Kay Hian Securities will underwrite 32 million shares, comprising 20 million shares made available to the Malaysian public and 12 million shares reserved for application by eligible directors and employees as well as persons who have contributed to the success of the group.

The IPO also comprises 75.18 million shares made available by way of private placement to identified institutional and/or selected investors.

There is no offer for sale and placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry as the operating company, NSS, has MSC Digital Status.

Go Hub executive director and CEO Tan Cherng Thong said the IPO proceeds raised will be primarily fuel business expansion plans, which includes the expansion of 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," he said.