GEM Go Hub got off to a good start, doubles the opening plan, and plans to expand the layout

This transportation information technology (IT) company reported an opening price of 80 cents today, reaching a premium of 128.57% compared to the initial public offering (IPO) price of 35 cents, reaching a 128.57% premium. The first transaction volume was 8.42 million shares.

After the listing, Go Hub Capital climbed to a maximum of 99 cents. Although the stock price increase declined slightly after noon trading, Go Hub Capital ended up receiving 95 cents. Compared with the initial price of 35 cents, the premium was 1.71 times higher!

Executive Director and CEO Chen Chengdong said at an online press conference: “The company is extremely happy because it has been preparing for this listing for two years.”

“We think the opening price was excellent, which is proof of investors' recognition of the company's long-term performance.”

Looking ahead, the company will deploy more technical solutions in the East Malaysia market.

Looking at Sabah, the site operating system (TOS) provided by Go Hub, that is, integrated technology (CTS) combining traffic management and control systems (TMS) and central ticketing systems, was put into operation in November 2023.

Chen Chengdong said, “Under the Sabah digitalization initiative, the company plans to fully invest in our IT solutions locally in March 2025, especially by implanting TOS technology at 8 local ferry terminals.”

In terms of business expansion, the company also actively participated in bidding for public infrastructure construction projects.

“The National Infrastructure Corporation (Prasarana) and Shacheng Rapid Transit have launched several transportation IT solution projects. What I can say is that almost all of our companies have bids.”

In addition to East Malaysia, the company has already acquired an 8-story office building at the Cybercity Star Central Business Park. The funds raised in this round of the IPO amount 9.90% or RM3.72 million, which will be used as part of the acquisition capital.

As part of Go Hub's strategic initiative, the company plans to open a comprehensive experience center in the Klang Valley region.

The funds raised in this round of IPOs will be broadcast RM1 million as marketing expenses for the company.

According to Chen Chengdong, the company plans to participate in two international rail transit exhibitions this year, namely the Asian Rail Solutions Exhibition in Malaysia and the Rail Transit Technology Exhibition (InnoTrans) in Berlin, Germany.

Chen Chengdong added that the company's compound annual growth rate (CAGR) is 55.75%, which indicates that the market has a high demand for innovative and efficient IT solutions, so Go Hub is optimistic about the prospects for the local transportation IT sector.