For those who’ve ever taken the bridge from KLCC to Pavillion, then you definately’ve little doubt heard about Aquaria KLCC earlier than.

A hotspot for college journeys and vacationers alike, it’s a identify eternally ingrained within the hearts of Malaysians with nostalgia.

Lately, its proprietor, the Aquawalk Group, revealed its intentions to listing on the ACE Market. If all goes to plan, this would be the first time an oceanarium operator has gone public inside the area.

Dictionary time: ACE Market, previously often known as MESDAQ, is a sponsor-driven market designed for corporations with progress prospects. Learn extra about it right here.

The nitty-gritty

As reported by The Edge, the preliminary public providing (IPO) will see an issuance of 368.6 million new shares. This will likely be divided into the next:

• 271.76 million shares in personal placements to chose traders
• 92.15 million shares in public choices through balloting
• 4.69 million shares for particular administrators and staff of the group

An extra 368.6 million current shares can even be on supply by way of personal placement to chose traders.

Ranging from 2025, Aquawalk additionally shared its intentions to pay shareholders dividends of 30% of its annual revenue minimal. This comes after tax, in fact.

For further context, the group recorded a internet revenue of RM25.54 million in 2022, rising to RM33.83 million the next 12 months. This was practically matched by August 2024, the place the group made RM33.05 million earlier than the 12 months had even ended.

Additionally of notice is that M&A Securities Sdn Bhd will act because the group’s principal adviser, sponsor, underwriter, and placement agent for the method.

Biding time

The choice to listing the Aquawalk Group has been within the works for fairly some time now. Not at all was it a hasty one.

An interview between group CEO Dato’ Simon Foong and The Edge again in 2018 revealed that plans have been in movement since no less than then.

On the time, Aquaria Phuket in Thailand, the group’s second aquarium, was nonetheless below building. Whereas the Aquawalk Group was able to looking for a list with simply Aquaria, Foong wished to have multiple aquarium earlier than going public.

Although they initially deliberate their IPO for 2020, plans had been shelved till June 2024 the place it was revealed that this 12 months could be their new goal.

Diving in the direction of the long run

Right now, the Aquawalk Group has but to disclose their focused proceeds. What is understood is how they intend to make use of them, as per their prospectus.

Funds will likely be allotted to repaying borrowings, working capital, optimising IT methods, in addition to upgrading and creating new sights. 

Regionally, building plans embrace a brand new oceanarium in Kota Kinabalu, Sabah, in line with The Edge’s 2025 report.

The group can be looking for to extend their presence in Indonesia the place they possess a 40% stake in Jakarta Aquarium & Safari. To that finish, the constructing of one other oceanarium has additionally been proposed for Java.

Although CEO Dato’ Simon Foong will likely be amongst these promoting his shares, he’ll nonetheless stay the group’s largest shareholder following the IPO. His shareholdings in different corporations brings his oblique curiosity to 50.3%.

Although an IPO comes with its fair proportion of dangers, it’s tough to think about Aquawalk and its manufacturers falling on onerous occasions.

Right here’s hoping that the additional capital will deliver with it pleasure to wherever the group decides to open their doorways.

• Be taught extra in regards to the Aquawalk Group right here.
• Learn extra articles we’ve written about Funding right here.

Featured Picture Credit score: Aquaria KLCC, Aquaria Phuket