SkyeChip Berhad inks underwriting agreement
SkyeChip commenced its IC design operations in 2020 and has since designed and developed a portfolio of proprietary silicon IPs, including memory interface IPs, Network-on-Chip (NoC) IPs and die-to-die interface IPs, as well as custom ASICs for applications such as AI inference. The Company has filed more than 100 patent applications across Malaysia, China and the United States.
The IPO comprises a public issue of 400.0 million new ordinary shares in SkyeChip (“IPO Shares”), representing 22.3% of the enlarged issued share capital of the Company. Notably, there is no offer for sale of existing shares by the current shareholders.
Dato' Fong Swee Kiang, Non-Independent Executive Director and Chief Executive Officer, SkyeChip Berhad commented: “We are grateful for the guidance from our Principal Adviser, Maybank Investment Bank, and the confidence shown by our customers, suppliers and partners throughout our IPO journey. The Government of Malaysia’s strong support has also played an important role in enabling local semiconductor companies to scale globally.
Looking ahead, the IPO proceeds will allow us to further advance our silicon IPs and custom ASIC development in applications such as AI, high-performance computing and autonomous vehniicles, as we work towards strengthening SkyeChip’s presence as a global IC design company.”
The Company and its subsidiaries (“Group”) intends to utilise the IPO proceeds within three years from the date of listing. Approximately 60% of the IPO proceeds will be allocated towards the research and development of IC products and silicon IP.
In respect of IC products, the Group will focus on custom compute and AI silicon products, as well as 2.5D/3D and other silicon products. In respect of silicon IPs, the Group will enhance its proprietary silicon IP portfolio through the development of next-generation memory interface IPs, such as LPDDR6 and HBM4, while expanding into the automotive IP segment.
Approximately 16% of the proceeds will be directed towards the expansion of the Company’s computing infrastructure and operational facilities to support growing engineering operations, while approximately 10% will be deployed for the subscription and licensing of electronic design automation (EDA) and development software tools essential to the Group’s IC design operations. The remainder will be used for working capital requirements and to defray fees and expenses incurred in connection with the IPO.
Michael Oh-Lau, Chief Executive Officer, Maybank Investment Bank Berhad added: “We are honoured to support SkyeChip on its journey towards a Main Market listing. As a unique homegrown IC design house, SkyeChip is led by an established leadership team and supported by a solid portfolio of in‑house technology, reflecting the strength of local talent in this space. This strong foundation positions the company well to respond to growing global demand for memory, AI and high‑performance computing, and to accelerate its growth as a globally recognised IC design, services and technology powerhouse.”
