In a statement, the transportation information technology solutions provider said its initial public offering (IPO) comprises a public issue of 107.18 million new ordinary shares.

“It comprises 20 million shares available to the Malaysian public, 12 million reserved for eligible directors and employees, and 75.18 million offered through private placement to institutional and selected investors.

“This IPO does not involve an offer for sale and placement to bumiputera investors approved by the investment, trade and industry ministry as the operating company, NSS IT Solution Sdn Bhd has MSC Malaysia Status (now known as Malaysia Digital Status),” it said.

Go Hub executive director and CEO Tan Cherng Thong said securing the listing on the ACE Market marked a significant milestone as the company continues to expand its market presence in the local transportation segments.

“We also aim to continue to enhance our solution offerings and deliver greater value to our stakeholders,” he said.

Go Hub said that the proceeds from the IPO will be strategically allocated to enhance and expand the company’s operations, with a primary focus on expanding its technical and operational capabilities and supporting its expansion to new market segments.

“UOB Kay Hian Securities (M) Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent,” it said.