KUALA LUMPUR: SRKK AI Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd ahead of its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The digital transformation solutions enabler is slated to list on the ACE Market of Bursa Malaysia Securities Berhad in the third quarter of 2026.
According to a statement issued by the company, the IPO exercise entails a public issue of 64 million new shares and an offer for sale of 13 million shares.
Of the public issue, 14.2 million shares will be made available for application by the Malaysian public, 17.04 million shares will be made available for application by eligible directors, employees, and persons who have contributed to the success of the company, and 32.76 million shares will be made available via private placement to selected investors.
"We have grown our business during Malaysia’s technology wave over the past two decades, through Multimedia Super Corridor and ensuing digital transformation initiatives.
"Our upcoming IPO exercise positions us favourably to tap into the growing momentum of AI adoption across South East Asia, as regional enterprises and governments – including in Malaysia – begin to harness AI technologies for greater innovation, competitiveness and modernisation," said SRKK AI CEO Yew Lip Sin.
SRKK AI implements end-to-end digital transformation solutions for enterprises, and embeds AI into enterprises’ IT lifecycles, across cybersecurity, business workflows, cloud, software, and analytics.
It is one of the Managed Partners of Microsoft, and the first Malaysian solution provider to earn all pillars of key technical competency under the Microsoft AI Cloud Partner Program.
Recurring revenue constituted 50% of SRKK AI’s total revenue in the financial year ended Dec 31, 2024, via cloud services, IT managed services, data analytics and business intelligence, and rental of IT hardware and software.
The balance was derived from IT consulting and project implementation, and sale of IT hardware and software.
TA Securities is the principal adviser, sponsor, underwriter and placement agent for SRKK AI’s IPO exercise.
