GFM Services proposes transfer listing to Main Market

PETALING JAYA: Integrated facilities management firm GFM Services Bhd proposes a transfer listing from the ACE Market to Main Market of Bursa Malaysia.
The company said in a filing with the stock exchange that it has met the historical profit track record and other relevant requirements as set out in the Equity Guidelines for the transfer of its listing.
GFM’s share capital is RM42.81 million comprising 428.1 million shares.
The company said the transfer of listing is expected to enhance its credibility, prestige and reputation, and accord it with greater recognition and acceptance among investors, in particular institutional investors, thereby enhancing the attractiveness and marketability of GFM shares.
“In addition, the proposed transfer of listing signifies the growth of the GFM Group and is envisaged to enhance the confidence of GFM’s customers, suppliers, business associates, employees and shareholders through its profile as a company listed on the Main Market,” it added.
GFM also proposes to establish and implement an employee share scheme of up to 5% of the total number of issued shares comprising the employee share option scheme and employee share grant scheme.
At market close, GFM shares were up by 1.5 sen to 70.5 sen on some 11.19 million shares traded, giving it a market capitalisation of RM301.81 million.