KUALA LUMPUR (Nov 19): Aquawalk Group Bhd (KL:AQUAWALK), the operator of Aquaria KLCC, ended its maiden day of trading 22.6% higher after opening below its initial public offering (IPO) price on Bursa Malaysia’s ACE Market on Wednesday.

At the closing bell, the counter settled at 38 sen, seven sen or 22.58% higher than its IPO price of 31 sen. It swung between a low of 30 sen and a high of 39 sen, with some 340.9 million shares traded.

At its last price, the group is valued at RM700.3 million.

The public portion of the IPO was oversubscribed by 6.22 times, with Bumiputera applications exceeding the allocation by 5.68 times, and the non-Bumiputera tranche oversubscribed by 6.77 times. 

Aquawalk’s listing comes after the group first signalled plans to go public last year, positioning itself to become the region’s first oceanarium operator to list. It also coincides with the 20th anniversary of Aquaria KLCC, which has grown into one of Malaysia’s most visited marine attractions.

“We are now raising the capital needed to fund our expansion into the new oceanariums in the region. This is the next great chapter in our story,” said Aquawalk executive chairman Datuk Simon Foong during his speech at the listing ceremony. 

The IPO raised RM114.3 million for Aquawalk, allocated for the upgrading of existing attractions, development of new oceanariums, enhancements to information technology systems, repayment of borrowings and working capital. Another RM114.3 million from the offer for sale went to existing shareholders.

As part of its expansion programme, the group plans to build a new oceanarium in Kota Kinabalu, Sabah, and a new aquarium in Java, Indonesia. It is also expanding its flagship Aquaria KLCC with a new penguin exhibit, which features rockhopper penguins, scheduled for completion by mid-2026.

Aquawalk owns and operates Aquaria KLCC and Aquaria Phuket, the largest aquarium exhibit in Thailand, and holds a 40% stake in Jakarta Aquarium & Safari. The group is controlled by executive chairman Datuk Simon Foong, who also holds interests in InNature Bhd and The Body Shop’s Malaysian operations.

M&A Securities is the IPO’s adviser, sponsor, joint underwriter and joint placement agent for the listing, with CGS International Securities acting as joint underwriter and joint placement agent.

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