Last updated on December 25, 2025
KUALA LUMPUR, 11 November 2025 — Aquawalk Group Berhad (“Aquawalk”), the operator behind Malaysia’s Aquaria KLCC and other major regional aquariums, has drawn strong investor demand for its upcoming ACE Market listing on Bursa Malaysia Securities Berhad, with its initial public offering (IPO) oversubscribed by 6.22 times.
The company, established in 2005, develops, builds, and operates aquariums across Malaysia, Thailand, and Indonesia, blending tourism, education, and marine conservation under its integrated leisure business model.
IPO Receives Strong Retail and Institutional Demand
Aquawalk’s IPO comprises a public issue of 368.6 million new shares at RM0.31 per share, expected to raise RM114.3 million. The exercise also includes an offer for sale of 368.6 million existing shares via private placement to selected investors, including Bumiputera investors approved by MITI.
For the Malaysian public tranche of 92.2 million shares, Aquawalk received 8,986 applications for 665.6 million shares valued at approximately RM206.3 million.
- The Bumiputera portion was oversubscribed 5.68 times with 5,125 applications for 307.8 million shares.
- The public portion was oversubscribed 6.77 times with 3,861 applications for 357.9 million shares.
All 4.7 million shares reserved for eligible directors, employees, and contributors were fully subscribed, while institutional placements, 271.8 million Issue Shares and 368.6 million Offer Shares, were fully taken up.
Notices of allotment will be mailed to successful applicants on 18 November 2025, ahead of the company’s scheduled listing date on 19 November 2025.
Upon listing, Aquawalk will have a market capitalisation of RM571.3 million, based on its enlarged share capital of 1.843 billion shares at the IPO price of RM0.31 per share.
Expansion Plans Across Southeast Asia
Proceeds from the IPO will primarily fund the upgrading and expansion of Aquaria KLCC and Aquaria Phuket, alongside new project investments in Kota Kinabalu, Malaysia and Java, Indonesia.
“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,” said Dato’ Simon Foong, Group Executive Chairman of Aquawalk.
“The proceeds will be channelled towards upgrading and expanding our existing aquaria, as well as investing in new projects in Malaysia and Indonesia.”
Aquawalk currently operates or co-owns several major aquariums, including:
- Aquaria KLCC (Malaysia), home to 5,000 aquatic species and the country’s longest underwater tunnel.
- Aquaria Phuket (Thailand), among Thailand’s largest aquariums, featuring the nation’s only fine-dining experience in front of a main tank.
- Jakarta Aquarium Safari (Indonesia), co-owned through a 40% stake in PT Jakarta Akuarium Indonesia (PJAI).
Together, Aquawalk’s venues attract over one million visitors annually, making it a prominent player in Southeast Asia’s marine tourism and edutainment sector.
