Tag: Go Hub Capital Berhad

Go Hub Sets to Raise RM37.51 Million from Ace Market IPO

 Go Hub Capital Berhad (“Go Hub” or the “Company”), a key transportation information technology (IT) solutions provider, is pleased to announce the Company’s launch of the prospectus for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Go Hub prides itself as a key transportation IT solutions provider in Malaysia, focusing on providing tailored IT solutions (encompassing customised software development systems and integration of hardware and software system) with an established track record in the bus and rail segments. Go Hub also extends its offerings to include maintenance and support services as well as terminal management services for the IT solutions that Go Hub delivers to its customers.

Mr. Tan Meng Kim, Managing Director of Capital Markets, UOB Kay Hian Securities (M) Sdn Bhd; Mr. Tan Cherng Thong, Executive Director / CEO, Go Hub Capital Berhad [L-R]

The IPO aims to raise RM37.51 million through the issuance of 107.18 million new shares. The proceeds from the IPO will be primarily allocated to the following:

  • Expansion of business operations and enhance operational capabilities, enabling Go Hub to scale up to cater for current projects and to enter new markets.
  • Continuous development of innovative solution offerings, focusing on technological applications and solutions that optimise and streamlines operations process flows efficiently.
  • Marketing efforts to increase brand visibility and customer engagement through targeted campaigns and industry events.
  • General corporate purposes to improve operational efficiencies.

Applications for the IPO have opened starting at 10.00 a.m. today following the Prospectus launch and will close on 20 June 2024.The targeted IPO listing date of the Company on the ACE Market is on 3 July 2024. At the IPO price of RM0.35 per share, Go Hub will have a market capitalisation of RM140.0 million ahead of its debut.

Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub stated, “We are elated to have reached a new milestone with the Prospectus launch today, bringing us a step closer towards becoming a listed entity on the ACE Market of Bursa Securities. 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 expand our reach overseas. We are optimistic about the future and the opportunities this IPO opens for our company.”

Managing Director of Capital Markets of UOB Kay Hian Securities (M) Sdn Bhd, Mr. Tan Meng Kim expressed support, stating, “As we move into an era where digital transformation is crucial, Go Hub is well-positioned to meet these challenges head-on. Go Hub’s strategic vision, combined with their technological prowess, ensures their continued growth and leadership in the public transportation IT solutions sector.”

Go Hub has demonstrated consistent growth, underpinned by the Group’s expertise in developing and implementing comprehensive IT solutions for public transportation, including TOS, BOS, and Automated Fare Collection (AFC) systems. The Company’s commitment to quality, efficiency, and innovation has established it as a trusted provider in Malaysia.

UOB Kay Hian Securities (M) Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Go Hub.

[L-R]
Mr. Chew Boon Keat, Chief Financial Officer, Go Hub Capital Berhad
Mr. Eng Chee Seng, Chief Business Development Officer, Go Hub Capital Berhad
Mr. Hong Boon Huon, Chief Technology Officer, Go Hub Capital Berhad
Mr. Goh Yao Yen, Director, Co-Head of Corporate Finance UOB Kay Hian Securities (M) Sdn. Bhd.
Mr. Tan Meng Kim, Managing Director of Capital Markets, UOB Kay Hian Securities (M) Sdn Bhd
En. Zulkifly Bin Zakaria, Independent Non-Executive Chairman, Go Hub Capital Berhad
Mr. Tan Cherng Thong, Executive Director / CEO, Go Hub Capital Berhad
Ms. Lee Li Yee, Executive Director / Finance Director, Go Hub Capital Berhad
Cik Alwizah Al-Yafii Binti Ahmad Kamal, Independent Non-Executive Director, Go Hub Capital Berhad
Ms. Poh Zuan Yin, Independent Non-Executive Director, Go Hub Capital Berhad
Mr. Lee Yew Weng, Independent Non-Executive Director, Go Hub Capital Berhad
En. Mohd Aidy Hisyam Bin Abdullah, Head of Operation (Terminal), Go Hub Capital Berhad
En. Noor Rashid Bin Omar, Head of Operation (BOS), Go Hub Capital Berhad

Go Hub Capital Berhad Inks Underwriting Agreement with UOB Kay Hian Securities

  • The Group’s listing exercise involves public issue of 107.18 million shares

Go Hub Capital Berhad (Go Hub or the Company), a key transportation information technology (IT) solutions provider, is pleased to announce that it has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (UOBKH) in preparation for its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

From left: Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub, Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd
From left: Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub, Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd

Go Hub’s listing exercise involves the public issue of 107,180,000 new ordinary shares. The IPO shares will be allocated in the following manner:

Malaysian public

20,000,000 IPO shares made available for application by the Malaysian public.

Eligible persons

12,000,000 IPO shares reserved for application by eligible directors and employees as well as persons who have contributed to the success of the Group.

Private placement to selected investors

75,180,000 IPO shares made available by way of private placement to identified institutional and/or selected investors.

UOBKH will underwrite 32,000,000 IPO shares made available to the Malaysian public and eligible persons as part of the underwriting agreement. This IPO does not involve an offer for sale and placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry as the operating company, NSS has MSC Malaysia Status (now known as Malaysia Digital Status).

Mr. Tan Cherng Thong, Executive Director and CEO of Go Hub said, “We are gearing up to expand our technological footprint and solution offerings within the transportation sector, and this IPO is a strategic step in that direction. We are excited to collaborate with UOB Kay Hian to facilitate our listing on the ACE Market. The IPO proceeds raised will be primarily fuel our business expansion plans, which includes the expansion of our 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.”

Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, Mr. David Lim commented, “We are enthusiastic to collaborate with Go Hub on its listing exercise. Go Hub’s strong performance, driven by its innovative and comprehensive IT solutions in transportation industry, presents a compelling investment opportunity. We look forward to supporting Go Hub’s journey as it transitions into a publicly listed company.”

As an established provider of specialised IT services in the transportation industry, Go Hub has consistently demonstrated strong commitment towards innovation and excellence. The Group’s strategic initiatives and technological advancements have solidified its position as a key player in transforming Malaysia’s transportation landscape.

Go Hub Capital Berhad http://gohubcapital.com.my