PETALING JAYA: ACE Market-bound SRKK AI Bhd says the retail public tranche for its initial public offering (IPO) is oversubscribed by 312.3 times.
The digital transformation solutions enabler will be listed on July 9.
In a statement, the company said it received 29,428 applications worth RM1.4bil, for the 14.2 million shares offered to the Malaysian public.
“The oversubscription rate of 312.3 times is the highest received for IPOs on Bursa Malaysia thus far in 2026. The retail capital of RM1.4 billion garnered for SRKK AI’s IPO ranks among the highest raised for a retail public tranche on Bursa Malaysia in 2026,” the statement read.
SRKK AI’s executive director and chief executive officer Yew Lip Sin said this would accelerate the company’s artificial intelligence (AI)-enabled solutions development.
“Having witnessed the industry boom of Malaysia’s Multimedia Super Corridor in the late 1990s, we are positive of the tremendous multiplier effect of AI on organisations.
“With our track record of AI-embedding in corporations and our upcoming strategic plans, this IPO will enable us to effectively capture the potential in the AI market across the South-East Asian region.”
SRKK AI’s IPO will raise RM20.48 million in proceeds, of which RM4mil is earmarked for strategic growth initiatives in AI, namely the setup of AI labs and AI academy, and development of AI-enabled data analytics and business intelligence solutions.
A further RM1.84mil will be allocated for expansion to Indonesia, and RM3.7mil to build an in-house security operations centre. Also, RM1.8mil will be set aside for branding, marketing and promotional activities, RM4.64mil for working capital and RM4.5mi to defray listing expenses.
AI-enabled solutions constituted approximately 11%, or RM11.8mil, of SRKK AI revenue for the financial year ended Dec 31, 2025.
SRKK AI has set a dividend policy of distributing at least 20% of consolidated profits after tax attributable to shareholders.
