KUALA LUMPUR: SkyeChip Bhd's share price nearly quadrupled on its Main Market debut at RM3.50, surging RM2.62 or 297.7% above its initial public offering (IPO) price of 88 sen.
The Penang-based fabless integrated circuit (IC) and intellectual property (IP) design company saw 23.21 million shares traded shortly after market open, making it the most actively traded counter on Bursa Malaysia.
SkyeChip raised RM352mil from its IPO exercise, which involved the issuance of 400 million new shares, representing 22.3% of its enlarged issued share capital of nearly 1.8 billion shares.
Prior to listing, the company’s IPO drew overwhelming response from retail investors, with 74,453 applications received for 3.45 billion shares under the Malaysian public tranche, translating into an oversubscription rate of 95.03 times.
SkyeChip has positioned itself to ride the artificial intelligence-driven semiconductor growth cycle through the development of silicon IPs and customised IC solutions.
Proceeds from the IPO will mainly be used for research and development activities, expansion of computing infrastructure and laboratories, acquisition of electronic design automation tools, as well as working capital requirements.
Maybank Investment Bank Bhd is the principal adviser, lead bookrunner, joint bookrunner, managing underwriter and joint underwriter for the IPO, while CIMB Investment Bank Bhd is the joint bookrunner and joint underwriter.
In its fourth quarter ended March 31, 2026, SkyeChip posted a net profit of RM31.47mil on revenue of RM58.88mil.
For the financial year ended March 31, 2026 (FY26), net profit rose to RM48.54mil from RM35.95mil in FY25, while revenue increased to RM155.02mil from RM119.5mil.
