Malaysian logistics player Worldgate Global Logistics Ltd successfully listed on the Growth Enterprise Market of the Hong Kong Stock Exchange, Wednesday.
Commenting on the listing, Mr. Lee Chooi Seng, executive director and chairman of the company, said, “We are delighted to witness the debut trading of the company’s shares on the Stock Exchange of Hong Kong.
“This marks the beginning of a new journey for Worldgate. We would like to take this opportunity to extend our gratitude to all our investors for their great support.
“Going forward, our stable and visionary management team with strong execution capability will leverage our competitiveness, including our leading position, extensive and comprehensive logistics network, and to continue our efforts to achieve remarkable returns for our shareholders, and to strive for a brilliant future for Worldgate,” he added.
Worldgate was seeking to raise about HK$51.6m from the sale of 200m shares at HK$0.35. The proceeds will go towards:
- Expansion of rep/branch offices in Malaysia
- Expanding the scope of services
- Strengthening information technology services
- Growing the business through acquisitions or collaboration
- Loan repayments
- Working capital