Malaysia-based semiconductor design firm SkyeChip has appointed Maybank Investment Bank and CIMB Investment Bank as underwriters for its planned Main Market listing, according to a report by The Edge Malaysia.
The company has entered into a retail underwriting agreement with both banks as part of its initial public offering (IPO), marking a key step toward its public debut. Maybank IB is also acting as principal adviser, lead bookrunner, and managing underwriter, alongside its role as joint bookrunner and underwriter with CIMB IB.
SkyeChip's IPO will comprise the issuance of 400 million new shares, representing 22.3% of its enlarged share capital. Of these, 264.67 million shares will be allocated to institutional investors, while 135.33 million shares will be offered to retail investors. The listing will not include any sale of existing shares by current shareholders.
According to the company, approximately 60% of the IPO proceeds are allocated to research and development, with a focus on integrated circuit (IC) products and silicon intellectual property (IP). Another 16% will go toward expanding computing infrastructure and operational facilities, while 10% will cover subscriptions and licensing for electronic design automation tools. The remaining funds are earmarked for working capital and listing-related expenses.
Chief executive officer Fong Swee Kiang said the IPO will support the company's efforts to expand its capabilities in areas such as artificial intelligence, high-performance computing, and autonomous vehicles. He also highlighted Malaysia's government support as a key enabler for local semiconductor firms looking to scale globally.
Founded in 2019 and headquartered in Penang, SkyeChip specializes in silicon IP and the design of application-specific integrated circuits (ASICs), with a focus on advanced chip solutions for AI and high-performance computing applications. This positions the company within Malaysia's broader strategy to move up the semiconductor value chain.
The planned listing comes as Malaysia seeks to strengthen its domestic chip design ecosystem and capture more value from the global semiconductor industry, amid rising demand driven by AI and data-intensive applications.
Article edited by Jerry Chen
