Aquawalk Group Berhad, renowned for its world-class aquaria such as Aquaria KLCC, has announced that its initial public offering (IPO) has been oversubscribed by 6.22 times. The IPO, set to list on the ACE Market of Bursa Malaysia Securities Berhad on 19 November 2025, has attracted significant investor interest, reflecting confidence in the company’s growth prospects.
The IPO involves a public issue of 368.6 million new ordinary shares at RM0.31 per share, aiming to raise $24.1m (RM114.3m). Additionally, an offer for sale of 368.6 million existing shares will be made via private placement to selected investors and Bumiputera investors approved by the Ministry of Investment, Trade and Industry. The Malaysian public’s allocation of 92.2 million shares saw 8,986 applications for 665.6 million shares, with a value of approximately $43.5m (RM206.3m).
Aquawalk, established in 2005, operates in Malaysia, Thailand, and Indonesia, with attractions like the award-winning Aquaria KLCC and Aquaria Phuket. The Group’s Executive Chairman, Simon Foong, expressed satisfaction with the IPO’s reception, stating, “We are pleased and encouraged by the overwhelming response to our IPO, which reflects public confidence in Aquawalk and the exciting growth prospects we have ahead.”
Proceeds from the IPO will fund upgrades and expansions of existing aquaria and new projects in Kota Kinabalu, Malaysia, and Java, Indonesia. Upon listing, Aquawalk will have a market capitalisation of $120.4m (RM571.3m). M & A Securities Sdn Bhd and CGS International Securities Malaysia Sdn Bhd are managing the IPO process.
