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SRKK AI's IPO Gets Oversubscribed 312 Times

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SRKK AI's (KLSE:SRKKAI) initial public offering was oversubscribed by 312.27 times, receiving an overwhelming response, according to a Monday Malaysian bourse filing.

The company received 29,428 applications for 4.45 billion shares worth 1.42 billion ringgit from the Malaysian public for 14.2 million shares allocated under the public offering.

The Bumiputera portion was oversubscribed by 291.43 times, attracting 14,430 applications for 2.08 billion shares, while the non-Bumiputera portion was oversubscribed by 333.11 times with 14,998 applications for 2.37 billion shares.

The 17 million shares reserved for eligible persons were fully subscribed, while 45.8 million IPO shares allocated via private placement to selected investors were also fully placed, the company said.

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