SRKK AI Bhd, a digital transformation service provider with a presence in Malaysia and Singapore, will debut on the ACE Market on Thursday (July 9). Its IPO comprises the issue of 64 million new shares, raising RM20.48 million, and an offer for sale of 13 million shares by selling shareholders, both priced at 32 sen per share, giving a market capitalisation of RM90.88 million and an enlarged share base of 284 million shares. The IPO price reflects a PER of 13.35 times based on earnings per share of 2.4 sen for FY2025. Founded in 1999, the group initially focused on IT consultation, cybersecurity, and hardware/software sales, later expanding to Singapore in 2008 and offering IT asset lifecycle services. It entered a Microsoft AI Cloud Partner Program agreement on Aug 1, 2023, and distributes products for Kaseya, NinjaOne, Hewlett-Packard, Dell, and Sangfor Technologies. While it currently does not develop in-house proprietary AI technologies, SRKK AI plans to develop intellectual property in AI-focused software solutions and commercialise proprietary AI-enabled software solutions within 24 months of receiving IPO proceeds. A sum of RM1.32 million from the proceeds is allocated for this development.