- Public issue of 400,000,000 new ordinary shares at RM0.88 per share, raising gross proceeds of approximately RM352 million
- Approximately 60% of proceeds earmarked for research and development of next-generation silicon IPs and silicon products
- Slated to list on the Main Market of Bursa Securities on 20 May 2026
KUALA LUMPUR, 29 APRIL – SkyeChip Berhad (“SkyeChip” or the “Company”), the Penang-based integrated circuit (“IC”) design company specialising in the design and development of silicon Intellectual Properties (“IPs”) and custom Application-Specific Integrated Circuits (“ASICs”) has officially launched its prospectus in conjunction with the Company’s initial public offering (“IPO”) ahead of its listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), which is set for 20 May 2026.
The IPO comprises a public issue of 400,000,000 new ordinary shares in SkyeChip (“Shares”) at an IPO price of RM0.88 per Share. Notably, the IPO involves only the issuance of new shares, with no offer for sale of existing shares by current shareholders, with all proceeds raised accruing entirely to the Company.
The IPO is expected to raise gross proceeds of approximately RM352 million. Of the proceeds, approximately 60% will be channeled into research and development activities for the Company’s proprietary silicon IP portfolio and silicon products serving applications such as artificial intelligence, high-performance computing, data centres, and Advanced Driver Assistance Systems (ADAS).
Approximately 16% will be directed towards the expansion of the Company’s operational facilities and computing infrastructure and labs, while approximately 10% 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 will be used for working capital and to defray fees and expenses relating to the IPO.
With an enlarged total share capital of 1,796,000,000 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 approximately 39% of the total IPO Shares or approximately 60% of the Institutional Offering. Their participation underscores the strong institutional investors’ confidence in the Company’s growth prospects and its strategic positioning within Malaysia’s front-end semiconductor ecosystem and the compelling investment thesis behind SkyeChip’s technology leadership in silicon IP, particularly in High Bandwidth Memory (HBM), Low Power Double Data Rate (LPDDR) interface IPs and Network-on-Chip (NoC) IPs that are critical to the global artificial intelligence and high-performance computing supply chain.
“We want Malaysia to be the leading IC Design Hub in the region, and a recognised player in the upstream global semiconductor ecosystem. We are echoing the government’s vision of “Build in Malaysia” and extending it to “Design by Malaysia”. With the funds raised from this IPO, we will invest in R&D by hiring world-class talent and expanding our IP portfolio while advancing the next generation of silicon products.”
- Dato’ Fong Swee Kiang, Chief Executive Officer of SkyeChip Berhad
“We are honoured to support SkyeChip in achieving this milestone. Its listing represents a significant addition to Malaysia’s public markets and is fully aligned with the nation’s ambition to elevate the semiconductor sector into a global powerhouse. We look forward to deepening our partnership with SkyeChip as it continues to advance its growth ambitions.”
- Michael Oh-Lau, Chief Executive Officer of Maybank Investment Bank Berhad
Application for the retail offering opens today and will close at 5:00 p.m. on 6 May.
For the full list of cornerstone investors, please refer to Appendix 1. Maybank Investment Bank Berhad is the Principal Adviser, Lead Bookrunner, Joint Bookrunner, Managing Underwriter and Joint Underwriter for this IPO exercise. CIMB Investment Bank Berhad is the Joint Bookrunner and Joint Underwriter.