Representing a 4.10% premium over IPO price

KUALA LUMPUR, 28 March 2025 – HI Mobility Berhad, an established cross-border, intracity and intercity bus services provider, today officially debuts on the Main Market of Bursa Malaysia Securities Berhad. The share price opened at RM1.27, with an opening volume of 5,168,700 shares, representing a 4.10% premium over the initial public offering (“IPO”) price of RM1.22 per share. HI Mobility is traded under the stock name “HI” with the stock code of 5335.

The Company has successfully raised RM115.9 million through the issuance of 95.0 million new HI Mobility shares. Of this RM115.9 million, RM70.0 million is earmarked for the expansion of its bus fleet via the acquisition of electric buses and internal combustion engine buses. Another RM15.0 million has been allocated for the expansion of its electric vehicle charging infrastructure, where additional electric vehicle charging stations will be installed at its depots and selected routes in conjunction with acquisition of the electric buses. Meanwhile, RM5.0 million will be dedicated for technological enhancement, the upgrade of its operations control centre with a data integration platform and the deployment of artificial intelligence. RM17.9 million will be utilised as working capital and the remaining RM8.0 million will be used to defray fees and expenses related to its listing exercise.

Speaking at the listing ceremony earlier this morning, HI Mobility Executive Director cum Chief Executive Officer Lim Chern Chuen said, “In the weeks following our prospectus launch, we have been truly grateful for the support from investors and stakeholders. To our institutional shareholders and retail investors, thank you for your trust. Your confidence in our vision fuels our commitment to drive innovation and deliver long-term value.”

He further added, “We aspire to build a company that is resilient, adaptable, and capable of delivering long-term value to our shareholders. By capitalising on our strengths and embracing innovation, we will continue to lead the industry and uphold our belief in mass transit done better, for a better tomorrow.”

Maybank Investment Bank Berhad is the principal adviser, sole placement agent and sole underwriter for this IPO exercise.

HI Mobility Hit The Gong For Business Expansion: (from left to right) Ms. Faridah Bt Iskandar,  Independent Non-Executive Director; Ms Lim Chern Fang, Alternate Director; Yang Mulia Raja Datuk Zaharaton Binti Raja Zainal Abidin; Mr Lim Chern Chuen, Executive Director and Chief Executive Officer; Mdm Bah Kim Lian, Director of HI Mobility; Mr Ahmed Fairuz Bin Abdul Aziz, Independent Non-Executive Director. All from HI Mobility Berhad.