In a statement released on Wednesday, the company disclosed that it received 3,444 applications from the Malaysian public for approximately 154.89 million IPO shares, translating to a total subscription value of RM69.7 million.
A breakdown of the figures shows that the Bumiputera segment attracted 521 applications for 2.7 million shares following clawback and reallocation exercises. Meanwhile, the portion allocated to other Malaysian investors was significantly oversubscribed, registering a rate of 5.09 times.
Golden Destinations also confirmed that shares set aside for eligible persons were fully subscribed, while those offered via private placement to selected investors were completely taken up. Similarly, allocations reserved for identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) were fully subscribed.
Successful applicants will receive their notices of allotment on April 15.
The IPO involves a total of 300 million shares priced at 45 sen each, comprising 200 million new shares issued by the company and an offer for sale of 100 million existing shares.
Operating primarily in the business-to-business segment, Golden Destinations focuses on providing curated travel and cruise packages through a network of more than 800 licensed travel agents across Malaysia, rather than dealing directly with end-consumers. The company also offers ancillary services such as flight ticketing and travel support.
The IPO exercise is being led by UOB Kay Hian, which is acting as principal adviser, sponsor, underwriter, and placement agent.