Golden Destinations Group Bhd ended its ACE Market debut on a weak note, closing at 40 sen, down five sen or 11.11% from its IPO price, despite an early surge driven by strong buying interest.
The travel business-to-business player opened at 49 sen, a premium of 8.89% to its 45 sen offer price, as investors initially piled into the stock on optimism over its growth prospects and resilient outbound travel demand.
However, profit-taking set in through the session, dragging the counter lower. By midday, the stock had eased to 42 sen with nearly 80 million shares traded, before slipping further into the close.
Trading volume remained heavy, with about 93.6 million shares changing hands, signalling active participation despite the pullback.
While the debut ended below issue price, the strong opening premium and robust trading volume suggest continued investor interest, even as short-term traders lock in gains.
