Aquawalk dives into RM114m IPO plan
Aquawalk Group Bhd plans to raise RM114.3 million through its initial public offering ahead of its listing on Bursa Malaysia’s ACE Market on November 19, 2025. The company will allocate RM89.77 million of the proceeds for capital expenditures, RM14.94 million for working capital, RM3 million for upgrading its information technology systems, and RM7 million to cover listing costs.
Chief Executive Officer Daryl Foong said the IPO marks a key step for the group and the Malaysian tourism sector. He noted that the company demonstrates how education, conservation, and profitability can be mutually beneficial. After the IPO, Aquawalk will begin building new oceanariums in Surabaya, Indonesia, and Kota Kinabalu, Sabah, with each expected to create approximately 100 permanent jobs. The group already runs Aquaria KLCC and Aquaria Phuket and holds a 40 percent stake in Jakarta Aquarium and Safari.
The IPO price is set at 31 sen per share, valuing the company at RM571.3 million. Applications for the public portion opened today and will close on November 7, 2025, at 5 pm. M&A Securities serves as adviser, sponsor, and managing underwriter.
