KUALA LUMPUR, MY / ACCESS Newswire / April 8, 2026 / Golden Destinations Group Berhad ("Golden Destinations" or the "Company"), a full-service outbound travel experience curator, which is set to debut on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 16 April 2026, is pleased to announce that the Company's share allocation to the Malaysian public from its Initial Public Offering ("IPO") has been oversubscribed by 2.10 times.
From L-R: Mr. Cheong Kee Yoong, Independent Non-Executive Chairman, Golden Destinations Group Berhad; Mr. Lim Swee Chuan, Executive Director / Chief Corporate Officer, Golden Destinations Group Berhad; Mr. Mita Lim, Managing Director, Golden Destinations Group Berhad; Mr. Charles Lim, Chief Operating Officer, Golden Destinations Group Berhad; Ms. Emily Chan, Chief Financial Officer, Golden Destinations Group Berhad
Golden Destinations' IPO comprises a public issue of 200,000,000 new ordinary shares ("Issue Shares"), which were made available for application in the following manner:
50,000,000 Issue Shares made available for application by the Malaysian public (of which 25,000,000 Issue Shares are set aside for Bumiputera investors under the balloting process);
35,000,000 Issue Shares reserved for eligible directors and employees as well as persons who have contributed to the success of the Company and its subsidiaries ("Eligible Persons");
90,000,000 Issue Shares made available by way of private placement to identified institutional and/or selected investors; and
25,000,000 Issue Shares made available by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia ("MITI").
The Company received a total of 3,444 applications for 154,890,300 Issue Shares worth approximately RM69.70 million from the Malaysian public, representing an oversubscription rate of 2.10 times.
Meanwhile, the 35,000,000 Issue Shares made available for application by the Eligible Persons have been fully subscribed. Under the private placement to identified institutional and/or selected investors comprising 90,000,000 Issue Shares, the Placement Agent has confirmed that the placement tranche has been fully placed out.
Mr. Mita Lim, Managing Director of Golden Destinations Group Berhad, said, "We are truly encouraged by the response to our IPO, which reflects investors' confidence in Golden Destinations' business model and long-term growth prospects. The encouraging support from the investment community further strengthens our commitment to expand our curated travel offerings, reinforce our operational platform and continue delivering high-quality travel experiences through our extensive network of travel partners."
With approximately three decades of experience in the travel industry, Golden Destinations has established a strong presence in the outbound travel segment through its flagship Golden Destinations ("GD") brand portfolio. The Company offers a wide range of curated travel experience packages across multiple global destinations and operates primarily through a business-to-business distribution model, serving a network of travel agents nationwide.
Mr. David Lim, Chief Executive Officer of UOB Kay Hian (M) Sdn Bhd, said, "The demand for Golden Destinations' IPO highlights investors' recognition of the Company's established brand in the outbound travel industry, scalable business model and growth opportunities within the sector."
UOB Kay Hian (M) Sdn. Bhd., being the Principal Adviser, Sponsor, Underwriter and Placement Agent in conjunction with the IPO, has confirmed that the 90,000,000 Issue Shares made available by way of private placement to identified institutional and/or selected investors have been fully placed out.
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ABOUT GOLDEN DESTINATIONS GROUP BERHAD
Golden Destinations Group Berhad ("Golden Destinations" or the "Company") is a full-service outbound travel experience curator, offering a comprehensive suite of outbound travel experience products and services under Golden Destinations (GD), our flagship brand portfolio. Through its subsidiaries, the Group offers a comprehensive range of travel products, including series travel experience packages, cruise travel experience packages and other outbound travel experience packages, distributed primarily via an established network of travel agents. As at its latest reporting period, Golden Destinations' travel portfolio spans over 84 countries, with more than 2,000 travel experience packages across multiple destinations worldwide, supported by long-standing relationships with airlines, cruise operators and overseas ground service providers. The Group is focused on scaling its operational capabilities, enhancing service delivery and strengthening its market presence in the outbound travel segment.
Issued By: Swan Consultancy Sdn Bhd on behalf of Golden Destinations Group Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
William Yeo
Email: w.yeo@swanconsultancy.biz
SOURCE: Golden Destinations Group Berhad
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/travel/golden-destinations-ipo-oversubscribed-by-2.10-times-1155894
