- Shares opened at RM3.50, representing a 297.73% premium over its IPO price of RM0.88
- Opening volume was 23,212,500 million shares
KUALA LUMPUR, 20 MAY – SkyeChip Berhad (“SkyeChip” or the “Company”), a Penang-based integrated circuit (“IC“) design company specialising in the design and development of silicon intellectual property (“IP”) and custom application specific integrated circuit (“ASIC”), made its debut today on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The Company’s shares opened at RM3.50 per share, representing a 297.73% premium over its initial public offering (“IPO”) price of RM0.88 per share, with an opening volume of 23,212,500 million shares recorded at 9 a.m. today.
The Company operates under the stock code KLSE: SKYECHIP – 5357.
The listing of SkyeChip on Bursa Securities is a significant addition to Malaysia’s public markets landscape, leading the way for the front-end IC design semiconductor industry. Through this IPO, the Company successfully raised RM352.0 million, making it the largest IPO in the semiconductor sector in Malaysia ever and stands among the most significant semiconductor sector listings in ASEAN in recent years.
As the IPO involves only the issuance of new shares, the entire proceeds from the IPO accrues directly to the Company. Approximately 60% of the IPO proceeds will be channeled into research and development activities for the proprietary silicon IP portfolio and silicon products of the Company and its subsidiaries (collectively, “Group”), serving applications such as artificial intelligence, high-performance computing, data centres and Advanced Driver Assistance Systems (“ADAS”).
Approximately 16% of the IPO proceeds will be allocated towards the expansion of the Group’s operational facilities, computing infrastructure and laboratories, while approximately 10% of the IPO proceeds will be used to subscribe for advanced Electronic Design Automation (“EDA”) and development software tools, which are essential to the Group’s IC design operations. The remaining proceeds will be used for the Group’s working capital and to defray fees and expenses in relation to the IPO.
“This listing is a statement to prove that SkyeChip is built on transparency, discipline, and long-term value creation. It opens doors to larger customers, deeper partnerships, and a stronger position in the global semiconductor ecosystem.
SkyeChip now has the capital to scale, to invest further in R&D, to expand our IP portfolio, and to build the next generation of silicon platforms.
But just as importantly, we want to demonstrate that world-class semiconductor innovation can be built from Malaysia — and to inspire many more companies like SkyeChip.”
- Dato’ Fong Swee Kiang, Chief Executive Officer of SkyeChip Berhad
SkyeChip’s IPO received strong demand from both retail and institutional investors. The public issue of 35,920,000 shares at an IPO price of RM0.88 per share was oversubscribed by 95.03 times, with a total of 74,453 applications for 3,449,537,900 shares. This translated to a total demand of RM3.04 billion, marking the largest retail oversubscription since Petronas Chemicals Company Berhad’s IPO in 2010.
The institutional offering was fully subscribed, with 22 cornerstone investors who collectively subscribed for 58.6% of the institutional offering, with the remaining shares oversubscribed by 38.76 times through bookbuilding. Pink form allocations to eligible persons were also fully subscribed.
Maybank Investment Bank Berhad is the Principal Adviser, Lead Bookrunner, Joint Bookrunner, Managing Underwriter and Joint Underwriter for the IPO.
CIMB Investment Bank Berhad is the Joint Bookrunner and Joint Underwriter for the IPO.