Main Market-bound SkyeChip Aims To Raise RM352 Mln In IPO

KUALA LUMPUR, April 29 (Bernama) -- Penang-based integrated circuit (IC) designer SkyeChip Bhd aims to raise RM352 million via its initial public offering (IPO) to list on Bursa Malaysia’s Main Market.

Chief executive officer Datuk Fong Swee Kiang said the May 20 listing will elevate SkyeChip’s position as a regional IC design player focused on high-performance computing and artificial intelligence (AI) within the semiconductor industry.

"With the funds raised from this IPO, we will invest in research and development (R&D) and world-class talent, expand our intellectual properties portfolio, and develop the next generation of silicon products," he said at SkyeChip’s prospectus launch here today.

Also present were Deputy Minister of Investment, Trade and Industry Sim Tze Tzin and SkyeChip independent and non-executive chairman Datuk Seri Wong Siew Hai.

According to the prospectus, RM211.5 million, or 60.1 per cent of the proceeds, will be channelled into R&D activities for the company’s proprietary silicon intellectual property portfolio and silicon products serving applications.

"RM57.1 million (16.2 per cent) will be directed towards the expansion of SkyeChip's operational facilities and computing infrastructure and labs, while RM36.7 million (10.4 per cent) will be used to subscribe to advanced electronic design automation (EDA) and development software tools essential to the company’s IC design operations. 

"The remainder RM46.7 million (13.3 per cent) will be used for working capital and to defray fees and expenses relating to the IPO," it said.

SkyeChip said the IPO comprises a public issue of 400 million new ordinary shares in SkyeChip at an IPO price of 88 sen per share.

With an enlarged total share capital of 1.80 billion shares, SkyeChip’s total market capitalisation upon listing is expected to be approximately RM1.58 billion. 

In conjunction with the IPO, SkyeChip has secured commitments from a group of cornerstone investors who have collectively subscribed for 155 million IPO shares, representing 39 per cent of the total IPO shares or approximately 60 per cent of the institutional offering.

Application for the retail offering opens today. It closes at 5 pm on May 6, 2026.

Maybank Investment Bank Bhd is the principal adviser, lead bookrunner and managing underwriter. It is also a joint bookrunner and joint underwriter with CIMB Investment Bank Bhd. 

-- BERNAMA