SkyeChip Bhd has appointed Maybank Investment Bank Bhd (Maybank IB) and CIMB Investment Bank Bhd (CIMB IB) as underwriters for its planned listing on the Main Market of Bursa Malaysia.
In a statement, the semiconductor design firm said it has entered into a retail underwriting agreement with both banks as part of its initial public offering (IPO) exercise. Maybank IB is also acting as the principal adviser, lead bookrunner and managing underwriter, while CIMB IB serves as joint bookrunner and joint underwriter.
From left: Maybank IB deputy CEO Tengku Ariff Azhar Tengku Mohamed; CEO Michael Oh-Lau; global banking group CEO Datuk John Chong; SkyeChip non-independent executive director and CEO Datuk Fong Swee Kiang; non-independent executive director and chief technology officer Teh Chee Hak; and CIMB IB CEO and regional head of investment banking Nor Masliza Sulaiman.
SkyeChip’s IPO will involve the issuance of 400 million new shares, representing 22.3% of its enlarged share capital. Of this, 264.67 million shares will be allocated to institutional investors, while 135.33 million shares will be offered to retail investors. No existing shares will be sold by current shareholders.
Executive director and chief executive officer Datuk Fong Swee Kiang said the company’s IPO journey has been supported by its advisers, partners and the Malaysian government, which has played a key role in helping local semiconductor firms scale globally.
The company plans to allocate about 60% of the IPO proceeds towards research and development of integrated circuit (IC) products and silicon intellectual property (IP). Another 16% will be used to expand its computing infrastructure and operational facilities, while 10% is earmarked for subscriptions and licensing of electronic design automation and development tools.
The remaining funds will be utilised for working capital and to cover listing-related expenses.
Fong added that the fundraising will support SkyeChip’s growth in high-value segments such as artificial intelligence, high-performance computing and autonomous vehicle applications, as it strengthens its position as a global IC design company.
