Chipmaker SQAI said to plan RM300mil IPO in early 2027

Malaysian semiconductor company SQ Advanced Interconnect Bhd (SQAI) is reportedly planning to raise around RM300 million through an initial public offering (IPO) in the first quarter of 2027, according to sources familiar with the matter. The company, based in Malaysia's semiconductor hub Penang and operating a plant in China, may aim to secure a valuation of up to RM1.5 billion in the listing, though the specifics of the IPO size and timing are still under discussion.

Details of the IPO, including the number of shares to be sold and how the proceeds will be utilized, are outlined in SQAI's draft prospectus. The company intends to sell approximately 337.5 million shares, with the funds earmarked for facility expansion, research and development, and other strategic areas. Malaysia is actively pursuing the establishment of a high-value semiconductor hub, with its chip exports reaching record levels.

Recently, SkyeChip Bhd, also based in Penang, made headlines with its IPO, raising RM352 million and witnessing its shares surge 151% on the first day of trading, marking a significant 230% increase since the IPO.