PETALING JAYA: Golden Destinations Group Bhd, a full-service outbound travel experience curator, has signed an underwriting agreement with UOB Kay Hian (M) Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
According to the prospectus, the IPO will involve a public issue of 200 million shares, together with an offer for sale of 100 million shares.
Out of the total IPO shares, 50 million will be allocated to the Malaysian public, with 25 million set aside for Bumiputera investors through the balloting process.
In addition, 35 million shares have been reserved for eligible directors and employees of the group, as well as individuals who have contributed to the company’s success.
Meanwhile, 90 million shares will be placed out to identified institutional and selected investors through private placement.
A further 25 million shares will be allocated via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti).
Separately, the offer for sale will involve 100 million shares, also to be placed out to Bumiputera investors approved by Miti.
Under the underwriting agreement, UOB Kay Hian will underwrite 85 million of the company’s shares.
Golden Destinations managing director Mita Lim said the signing of the underwriting agreement represents a key milestone in the group’s corporate journey as it progresses closer towards listing on the ACE Market.
“The IPO is intended to strengthen our business expansion, where we enhance our ability to scale our operations, broaden our product offerings, strengthen our branding and expand our market presence in the industry, while continuing to deliver curated outbound travel experience packages through our established distribution network,” he said.
Golden Destinations specialises in curating travel experience packages under its “Golden Destinations” flagship brand portfolio.
The group operates primarily within the business-to-business (B2B) segment, serving a network of travel agents. Under the B2B model, Golden Destinations typically does not sell outbound travel experience products and services directly to end-consumers, such as outbound travellers.
Guided by a traveller-first philosophy, the group offers a comprehensive suite of outbound travel experience packages through its established B2B distribution network.
UOB Kay Hian executive director David Lim said the firm is ready to support Golden Destinations in its ACE Market listing.
“The group has built a solid position in the outbound travel segment, supported by a broad travel product suite and an established operating platform. We look forward to working closely with the group as it transitions into a publicly listed company and advances its next phase of growth.”
As a recognised outbound travel experience curator in Malaysia, Golden Destinations has built a strong operating track record anchored on its traveller-first philosophy.
As a travel experience curator, the company’s role extends beyond that of a conventional outbound tour provider, as Golden Destinations is actively involved in travellers’ experiences, from product curation and development to overseeing the delivery of travel services.
The group’s emphasis on curating travel experience packages that cater to diverse traveller preferences, supported by extensive destination coverage and long-standing relationships with travel agents and global travel partners, has reinforced its market position.
With a wide range of travel experience packages designed to deliver distinctive, well-organised travel experiences, the group remains focused on strengthening its operational platform and scaling its business to capture the ongoing growth in international travel demand.
