KUALA LUMPUR: SRKK AI Bhd’s initial public offering (IPO) was oversubscribed by 312.3 times for the public portion ahead of its ACE Market listing on Bursa Malaysia on July 9.

The digital transformation solutions provider received 29,428 applications worth RM1.4 billion for the 14.2 million shares available to the public.

The company said the oversubscription rate is the highest recorded for an IPO on Bursa so far in 2026, while the RM1.4 billion in retail applications ranks among the largest amounts subscribed for a retail tranche this year.

SRKK AI executive director and chief executive officer Yew Lip Sin said this reflects investors’ confidence in the company’s growth prospects and supports its plans to expand its artificial intelligence (AI)-enabled solutions and services.

The IPO is expected to raise RM20.48 million, with RM4 million allocated for AI-related growth initiatives. This includes the setting up of AI laboratories and an AI academy and development of AI-enabled data analytics and business intelligence solutions.

Another RM1.84 million will be used to support the company’s expansion into Indonesia, while RM3.7 million has been earmarked for the development of an in-house Security Operations Centre.

The company also allocated RM1.8 million for branding, marketing and promotional activities, RM4.64 million for working capital and RM4.5 million for listing expenses.

For the financial year ended Dec 31, 2025, AI-enabled solutions contributed RM11.8 million, or 11 per cent, of SRKK AI’s revenue.

The company has adopted a dividend policy of distributing at least 20 per cent of its consolidated profit after tax attributable to shareholders.

SRKK AI provides end-to-end digital transformation solutions for enterprises, integrating AI technologies into information technology lifecycles across cybersecurity, cloud services, business workflows, software development and analytics.