ACE Market-bound Go Hub Capital targets RM37.5mil from IPO

KUALA LUMPUR: Transportation information technology (IT) solutions provider Go Hub Capital Bhd has scheduled a listing on the ACE Market of Bursa Malaysia on July 3, 2024, as part of its initial public offering (IPO) with the target to raise RM37.51mil.

The company said the proceeds from the IPO will be primarily allocated for business operation expansion, development of innovative solution offerings, increasing brand visibility and customer engagement, as well as general corporate purposes.

“Applications for the IPO have opened starting at 10am yesterday, following the prospectus launch, and will close on June 20, 2024.

“At the IPO price of RM0.35 per share, Go Hub would have a market capitalisation of RM140mil ahead of its debut,” it said in a statement.

Executive director and chief executive officer Tan Cherng Thong said the prospectus launch brought the company closer towards becoming a listed entity.

“Having been in the transportation industry since 2011, our listing is in line with our growth plans and strategies to scale up our operations, expand our solutions offerings and reach overseas.

“We are optimistic about the future and the opportunities this IPO opens for our company,” he said.

UOB Kay Hian Securities (M) Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Go Hub.

Go Hub focused on providing tailored IT solutions, encompassing customised software development systems and integration of hardware and software systems with an established track record in the bus and rail segments. — Bernama

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