ACE Market-Bound SRKK AI's IPO Oversubscribed By 312.3 Times
KUALA LUMPUR, June 29 (Bernama) -- The retail tranche of SRKK AI Bhd's initial public offering (IPO) was oversubscribed by 312.3 times ahead of the company's listing on the ACE Market of Bursa Malaysia on July 9, 2026.
The digital transformation solutions enabler said it received 29,428 applications worth RM1.4 billion for the 14.2 million shares offered to the Malaysian public.
"The oversubscription rate of 312.3 times is the highest recorded for IPOs on Bursa Malaysia so far in 2026. The RM1.4 billion in retail subscriptions for SRKK AI's IPO also ranks among the highest raised for a retail public tranche on Bursa Malaysia this year," it said in a statement.
SRKK AI executive director and chief executive officer Yew Lip Sin said the overwhelming response would accelerate the development of the company's artificial intelligence (AI)-enabled solutions and support the expansion of its services for its existing client base of more than 1,600, based on the financial year ended Dec 31, 2025.
"With our track record of embedding AI into corporations and our upcoming strategic plans, this IPO enables us to effectively capture the tremendous potential in the AI market across Southeast Asia," he said.
SRKK AI will raise RM20.48 million from the IPO, of which RM4.00 million will be allocated to strategic AI growth initiatives, RM1.84 million for expansion into Indonesia, and RM3.70 million to establish an in-house Security Operations Centre.
A further RM1.80 million will be used for branding, marketing and promotional activities, RM4.64 million for working capital, while the remaining RM4.50 million will be used to meet listing expenses.
-- BERNAMA