KUALA LUMPUR: Serba Dinamik Holdings Bhd, through its subsidiary, has sponsored special purpose acquisition company (SPAC) Data Knights Acquisition Corp in its initial public offering (IPO) exercise of 10 million shares priced at US$10 (RM41.12) apiece.
The shares were traded on the Nasdaq Capital Market yesterday. The total investment made by Serba Dinamik in the SPAC is US$5.85mil (RM24.1mil). The UK-based Data Knights is looking to raise up to US$115mil (RM472.88mil) via the IPO.
The SPAC plans to leverage its management team’s experience and target the data centres and Internet technology sectors, focusing on businesses built on disruptive technologies and business platforms.
Serba Dinamik said it will be in a good position to benefit from the attractive returns in view of its early entry into the company while at the same time expanding its business into the US market with access to a larger pool of investors.