Penang-based semiconductor component maker SQ Advanced Interconnect Bhd is set to list on the Main Market of Bursa Malaysia to raise funds for expansion, research and development (R&D), and talent development.
According to the company’s prospectus filed with the Securities Commission Malaysia, proceeds from the proposed IPO will be used to expand manufacturing facilities, support R&D initiatives, strengthen working capital, repay borrowings, and cover listing expenses.
Founded in 1993, SQ Advanced Interconnect manufactures and assembles flexible printed circuits (FPC) and integrated circuit (IC) substrates, covering circuit design, prototype fabrication, and production. The company operates two plants in Malaysia—Bayan Lepas and Batu Kawan—and one plant in Xiamen, China.
The company’s earnings have been rising steadily, with profit after tax increasing to RM80.17 million in 2025 from RM68.6 million in 2023. It serves a diversified customer base of around 380 clients.
The IPO will consist of 337.5 million shares, including 202.5 million new shares for the public and 135 million shares offered by substantial shareholder Twisden Ltd, which currently holds a 10.4% stake. Twisden is 75% owned by managing director and CEO Jeffrey Hwang Shin Hung, with the remainder held by executive director Brian Low Loke Chew.
After listing, Twisden will no longer be a substantial shareholder. Hwang will hold a 58.12% stake (direct and indirect), while Low will hold 19.38%. Both executives have agreed to a six-month shareholding lock-up post-listing.
UOB Kay Hian (M) Sdn Bhd acts as the principal adviser, joint underwriter, and joint bookrunner for the IPO.
