Go Hub Capital Bhd (Go Hub) rose 128.57% in its initial public offering (IPO) on Bursa Malaysia Securities Berhad’s ACE Market today raising RM37.5 million.
Go Hub opened at 80 sen per share on a volume of 16.09 million shares versus its IPO price of 35 sen before climbing as high as 85 sen.
At 9.50am, the counter reached a high of 0.865 sen before tapering down to 0.86 sen with a trading volume of 780 580 000 shares traded.
Having a proven track record in terminal operating systems, bus operating systems, and automated fare collection systems, Go Hub group is a recognised leader in the public transportation IT solutions industry.
The Company’s innovative technologies and commitment to operational efficiency have been instrumental in enhancing the quality of public transportation services and contributing to clients’ environmental, social, and governance (ESG) targets, including improving operational efficiency and passengers’ experience.
The successful initial public offering of Go Hub Capital Berhad raised approximately RM37.51 million, allocated as follows: RM24.71 towards business expansion, RM4.00 million for the repayment of bank borrowings, RM4.80 million for working capital requirements, and RM4.00 million reserved for payment of listing expenses.
Independent Non-Executive Chairman of Go Hub Zulkifly Zakaria said: “This successful listing marks a significant milestone for Go Hub. It reflects the hard work and dedication of our team and the confidence the market has in our vision and strategy. We are enthusiastic about the opportunities this will bring, allowing us to further enhance our services and expand our reach within Malaysia.
“The positive investor response to our IPO underscores the market’s belief in our capabilities and growth potential. We look forward to leveraging this momentum to drive Go Hub’s growth and to solidify our position as a key IT solutions provider in the public transportation sector.”
UOB Kay Hian Securities (M) Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Go Hub.
